SBI Motor Japan is excited to announce their readiness to accept Bitcoin (BTC) and XRP in the purchase of used vehicles using a crypto exchange owned by SBI Group, SBI VCTrade Co., Ltd. yesterday.
This news indirectly marks the first achievement of XRP being accepted as a payment option for an international e-commerce platform.
Even in this shock, it is actually to be expected as Ripple and SBI have undertaken a joint venture in promoting the use of XRP in Asia.
For information, SBI Motor Japan is a used car export company in Japan.
Several used car export destinations are under the company, including Kenya, Ireland, the Cayman Islands, the Bahamas, the Caribbean, Zambia, and Tanzania.
It is understood that SBI is able to achieve a record export of up to 5000 auto vehicles per year.
Based on observations, payments using cryptocurrencies that are on the rise will continue to record dependency in the future. Because of that, SBI wants to be a part of this trend starting the export of used cars.
Not only that, SBI CEO Yoshitaka Kitao who held the position of Ripple board member from April 2019 until early 2021 has shown his support for XRP from the beginning.
At the time SBI Holdings issued an official statement along with Japanese legal references, claiming XRP was not a security but a cryptocurrency.
The SEC-Ripple case continues to this day.
Ripple CEO Brad Garlinghouse believes the case will find its conclusion point this year based on his observations of a smooth court trial.
However Ripple’s general adviser stated otherwise, the potential for the ‘XRP as a securities asset’ case to continue until 2023 is very high.
At the time of writing, XRP is trading at $ 0.53, down over 6% in 24 hours and over 14% since last week.
