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SBI Ripple Asia tests XRP Ledger application in tourism in Japan
SBI Ripple Asia has signed a memorandum of understanding with travel company Tobu Top Tours to develop a token and payment system on the XRP Ledger.
According to the agreement, SBI Ripple Asia will issue tokens to pay for services such as accommodation, dining, and shopping, while Tobu Top Tours is responsible for collaborating with partners and implementing marketing campaigns based on NFTs.
Japan's tourism industry is booming thanks to the weakening yen, and this system is expected to be implemented strongly in the tourism sector. The plan also extends to disaster relief, economic recovery, and popular culture, with a goal to launch in the first half of 2026.
SBI Ripple Asia is a joint venture between SBI Holdings of Japan and Ripple of the USA, established in 2016 to promote blockchain-based financial solutions in Asia. The SBI Group also operates SBI Crypto, which was involved in a hack incident worth 21 million USD.