Sbi Remit Expands Ripple Payments Network In Japan
SBI Remit has partnered with Tottori Bank to expand its cross-border payment services in Japan, according to CoinDesk. The deal brings @Ripple's distributed ledger technology into the arrangement, aiming to accelerate settlement times for international transfers.
The partnership is designed to support remittances and salary deposits for foreign workers based in Japan, a segment that has grown in importance as the country works to address labour shortages through increased migration.
The tie-up with Tottori Bank brings SBI Remit's network to 26 financial institutions across Japan, underlining the company's push to deepen its domestic footprint while using blockchain infrastructure to modernise payment rails.
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