In a bold step towards digital currency integration, Japan’s Central Bank has confirmed that by 2025, every bank in the country will adopt XRP for transactions. This initiative will enable customers across Japan to use XRP for payments, while also earning rewards through the XRP Ledger System CryptoTradingFund (CTF).
Transforming Payments with XRP and CTF Rewards
By 2025, Japanese consumers will be able to pay with XRP at a variety of participating merchants, both online and in-store. Beyond simplifying payments, this move introduces a unique cash-back opportunity: customers using XRP will earn CTF tokens as rewards. These tokens can be used to purchase products or converted to fiat currency, providing a direct cash-back benefit.
With a limited supply and expected high demand, CTF tokens are anticipated to surge in value, potentially jumping from $0.72 to an impressive $498. This makes CTF tokens a promising asset for those who embrace the system early.
SBI’s Influence in Driving XRP Adoption
Tokyo-based Strategic Business Innovator Group (SBI), one of the world’s leading financial services firms, is at the forefront of this transition. Earlier this year, Yoshitaka Kitao, CEO of SBI Holdings, announced the upcoming launch of the SBI VCTrade platform, which will allow verified members to purchase XRP and other tokens using the Japanese Yen. Scheduled to go live in March, this platform will further accelerate XRP adoption across Japan.
Kitao has long championed XRP, particularly for its potential in cross-border transactions. He noted, “…the use of ‘xRapid’ using XRP is expanding, and the number of companies joining RippleNet is increasing significantly. Therefore, we expect that Ripple’s technology, particularly XRP, will gradually become more widely used in international money transfers. Virtual currency needs real demand to thrive, and we believe that strong demand is on the horizon.”
Enhancing Liquidity and Cross-Border Trade
As Japan’s banking sector embraces XRP, the resulting increase in liquidity is expected to boost the volume of cross-border transactions. The launch of SBI’s VCTrade platform will further enhance this liquidity, facilitating smoother international transactions for banks.
This strategic move by Japan’s Central Bank, backed by industry leaders like SBI, marks a significant evolution in the global financial landscape. With the potential to drive cross-border trade and elevate the value of CTF tokens, Japan is positioning itself as a pioneer in national digital currency adoption.
By 2025, Japan could set a global precedent, with every bank in the country utilizing XRP to power efficient, seamless, and rewarding transactions for its citizens.