SBI VC Trade attributes company’s success to significant growth in crypto asset market

Tomohiko Kondo, representative director and CEO of SBI VC Trade, expressed gratitude to customers and stakeholders in a recent social media speech and attributed the company's success to the significant growth of the cryptocurrency market. Kondo emphasized the excellent performance of XRP, which is a focus of SBI VC Trade and the wider SBI Group.

Japanese financial institution SBI continues to actively collaborate with Ripple and announced the establishment of a joint venture earlier this year, consolidating the partnership between the two parties. Kondo also emphasized the key role of SBI Ripple Asia in this collaboration. SBI holds a majority stake of 60%, and Ripple Labs holds the remaining 40% stake. This entity will introduce Ripple's remittance solution to bank accounts in Southeast Asia.