SBI Holdings offer Ripple partners with multinationals to intensify transparency and efficiency over the supply chain.
Yoshitaka Kitao, Chief Executive Officer (CEO) of Japan’s financial giant SBI Holdings, has suggested that Ripple partner with multinational companies as well as to financial institutions. His proposal was moderately affected by the controlling of the COVID-19 pandemic by Japan.
According to SBI conference call on April 28, Kitao the member of the Ripple Council, spoke with reporters. The CEO said his lawyer would be at the next Ripple executive committee and query them to promote a new partnership with multinational companies like Big Shosha, a Japanese trading company.
“By adding multinational companies to the Ripple network and not just financial institutions we can expect [the number of cross-border payments] to grow exponentially.”
Blockchain is a way out to COVID-19
Kitao expects blockchain adoption of supply chain management to become the world’s most pressing problem following coronavirus, saying SBI has seen “disruptions in the supply chain” for critical supplies during an outbreak:
“We realize how dependent we are on China for the supply of masks. We are in serious trouble.”
Kitao believes that having transparency and efficiency by Ripple will be more fundamental.
“You will have to operate multiple supply chains with some flexibility and think about which countries are better equipped to deal with a pandemic. Also, you need to figure out which countries make information freely available and cooperate with others around the world…”
SBI and Ripple alliance
Both companies have worked closely in the past, with Ripple’s active partner SBI Holdings through their alliance SBI Ripple Asia, which was establish to promote the use of XRP in the Asian financial markets in 2016.
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