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Bitcoin:
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Yen’s Decline Sparks Calls for XRP Adoption in Japan

Japanese Yen Xrp

A subsequent drop in the Japanese yen value has been recently noted, which has left investors worried. Yoshitaka Kitao, CEO of SBI, reiterated his previous comments on the XRP’s potential when the yen hit multi-year lows.

Amelie, an X user, posted something that echoed Kitao’s concerns about XRP. While analyzing the current Yen depreciation, Amelie mentioned that a Japanese XRP payment system could be a solution rather than the currency transformation. Additionally, she went on to stress the necessity of upgrading the system.

Yoshitaka Kitao, CEO of the prominent financial services firm Strategic Business Innovator Group (SBI), made a comment about the impact of XRP in 2023, ignoring Bitcoin as an asset. According to his prediction, all Japanese banks would be using XRP by the year 2025. Kitao brought attention to the fact that significant firms are increasingly using XRP. Furthermore, he stated:

“Major fund transfer companies have also begun to introduce it, and the use of ‘xRapid’ using $XRP is becoming more widespread, and the number of companies participating in RippleNet is increasing significantly. Therefore, in that sense, I think that Ripple’s technology will gradually be used in the international remittance field, as well as “XRP.”

According to the proposition of Kitao, Amelie stated that the expansion of Ripple utilization will positively contribute to the stabilization of the yen currency in comparison to the dollar and euro. The SBI CEO announced that by 2025, every bank in Japan will be using Ripple; however, XRP’s price fell by 3.18% to $0.5175. Although there has been a small increase of 0.18% over the last week, Ripple has decreased significantly by 17% in the last month.

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