Ripple XRP: SBI Remit adds 26th Japan bank via DLT

Ripple-linked SBI Remit announced a new international money-transfer launch in Japan with Tottori Bank on April 20, extending SBI Remit’s bank-partner network to 26 institutions. The service uses Ripple’s distributed ledger technology (DLT) as part of its payments stack, though SBI Remit does not explicitly state that XRP will be used in this specific rollout. XRP community commentary framed the deal as another expansion of Ripple-enabled remittances, citing the role XRP can play where liquidity is ample. SBI Remit said the update targets Japan’s growing foreign workforce in Tottori Prefecture. It highlighted rising numbers of foreign workers and businesses, plus demand for fast, low-cost, always-on (24/7) cross-border payments that can be initiated via apps. It also pointed to compliance and account-management needs (e.g., supporting salary deposits and residence-permit related tasks). Business-wise, SBI Remit positions an integrated offering combining “remittances to hometown” and “salary deposit accounts” for foreign residents, with multilingual support across 12 languages. At the time of reporting, XRP was trading around $1.42. Overall, the news reinforces Ripple’s recurring presence in Japan’s remittance infrastructure through SBI channels, which may support XRP sentiment, even if near-term settlement mechanisms for this particular launch remain unclear.