SBI Partners with Hamamatsu Iwata Bank to Utilise RippleNet for Remittance

Fazzaco learned that SBI Group’s subsidiary, SBI Remit, has announced its strategic partnership with Hamamatsu Iwata to ease the process of outward remittances using RippleNet’s blockchain infrastructure.

According to the official press release, SBI Remit will help Hamamatsu Iwata Credit Bank expand the overseas market reach of the already existing international remittance platform.

SBI stated, “Our mission is to provide financial services centered on remittances to foreign residents, and we use Ripple’s distributed ledger technology, which is characterized by speed of deposit and low fees.”