Japanese Investors Prefer XRP Ripple (XRP) Over Bitcoin (BTC) and Ethereum
A recent study has found that Japanese investors are showing a preference for investing in Ripple’s XRP Ripple (XRP) over Bitcoin, the world’s leading digital currency. This is on the other side to the treatment of Ripple and XRP Ripple (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 XRP Ripple (XRP) is favored over Bitcoin (BTC) and Ethereum (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 digital currency. The results showed that 25% chose XRP Ripple (XRP), while 26% preferred Bitcoin (BTC) and 9% favored Ethereum (ETH). Despite the fact that this survey alone may not be conclusive evidence of Japanese investors’ preference for XRP Ripple (XRP), it does indicate a whole lot of following for the token in the country.
XRP’s Popularity in Japan
The report outlines that XRP Ripple (XRP) had the highest spot volume of trading in February a year ago, with nearly 1.36 Billion units traded during that period. The popularity of XRP Ripple (XRP) in Japan can be attributed to the country’s customs and the confidence placed in Ripple by Japan’s largest deal financial resources fund, SBI Holdings. SBI Holdings invested approximately $300 Million in Ripple in 2017.
SBI Holdings: A Key Driver of Ripple’s Success
The report identifies SBI Holdings as a primary driver of Ripple’s 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 Ripple’s distributed ledger technology (DLT). This partnership allowed Ripple and its XRP Ripple (XRP) token to win early access to the Japanese market and expand further into other Asian countries.
Expanding Ripple’s 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 Ripple’s goal to disrupt the worldwide financial system by using XRP Ripple (XRP) as a bridge currency for quicker and more economical cross-border transactions.
Hot Take: XRP Ripple (XRP) Gains Traction in Japan, Surpassing Bitcoin (BTC) and Ethereum
The research indicates that Japanese investors are increasingly favoring Ripple’s XRP Ripple (XRP) over Bitcoin (BTC) and Ethereum (ETH). This preference can be attributed to factors such as XRP’s volume of trading, customs in Japan, and the confidence placed in Ripple by SBI Holdings. With the growth of Ripple’s services in the Asian region, including an XRP-based remittance service, XRP’s adoption is expected continuation growing. This trend outlines Japan’s positive reception of XRP Ripple (XRP) and its probability to disrupt traditional financial systems.
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