Japanese Investors Prefer XRPย Rippleย (XRP) Over Bitcoinย (BTC) and Ethereum
A recent study has found that Japanese investors are showing a preference for investing in Rippleโs XRPย Rippleย (XRP) over Bitcoin, the worldโs leading digitalย currency. This is onย theย otherย sideย to the treatment of Ripple and XRPย Rippleย (XRP) in the United States, where they face more regulatory scrutiny. The study, conducted by the Department of Economics and Finance at the City University of Hong Kong, outlines that XRPย Rippleย (XRP) is favored over Bitcoinย (BTC) and Ethereumย (ETH) by Japanese investors.
The Survey Results
The research paper references a survey conducted by the Japanese cryptocurrency exchange BITMAX, which requested 1,498 respondents about their favorite digitalย currency. The results showed that 25% chose XRPย Rippleย (XRP), while 26% preferred Bitcoinย (BTC) and 9% favored Ethereumย (ETH). Despiteย theย factย that this survey alone may not be conclusive evidence of Japanese investorsโ preference for XRPย Rippleย (XRP), it does indicate a wholeย lotย of following for the token in the country.
XRPโs Popularity in Japan
The report outlines that XRPย Rippleย (XRP) had the highest spot volumeย ofย trading in February aย yearย ago, with nearly 1.36 Billion units traded during that period. The popularity of XRPย Rippleย (XRP) in Japan can be attributed to the countryโs customs and the confidence placed in Ripple by Japanโs largest deal financialย resources fund, SBI Holdings. SBI Holdings invested approximately $300 Million in Ripple in 2017.
SBI Holdings: A Key Driver of Rippleโs Success
The report identifies SBI Holdings as a primary driver of Rippleโs success in Japan. SBI Holdings partnered with Ripple in 2016 to establish SBI Ripple Asia, aiming to provide cross-border payment services to Asian banks using Rippleโs distributed ledger technology (DLT). This partnership allowed Ripple and its XRPย Rippleย (XRP) token toย win early access to the Japanese market and expand further into other Asian countries.
Expanding Rippleโs Adoption in Asia
SBI Remit, a subsidiary of SBI Holdings, recently expanded its partnership with SBI Ripple Asia by introducing an XRP-based international remittance service for banks in the Philippines, Vietnam, and Indonesia. This aligns with Rippleโs goal to disrupt the worldwide financial system by using XRPย Rippleย (XRP) as a bridge currency for quicker and more economical cross-border transactions.
Hot Take: XRPย Rippleย (XRP) Gains Traction in Japan, Surpassing Bitcoinย (BTC) and Ethereum
The research indicates that Japanese investors are increasingly favoring Rippleโs XRPย Rippleย (XRP) over Bitcoinย (BTC) and Ethereumย (ETH). This preference can be attributed to factors such as XRPโs volumeย ofย trading, customs in Japan, and the confidence placed in Ripple by SBI Holdings. With theย growth of Rippleโs services in the Asian region, including an XRP-based remittance service, XRPโs adoption is expected continuation growing. This trend outlines Japanโs positive reception of XRPย Rippleย (XRP) and itsย probability to disrupt traditional financial systems.
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