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Ripple’s XRP sees $15 bn of cross‑border volume via SBI Remit, Japan’s biggest shareholder, highlighting growing institutional use and upcoming ETF prospects.
Ripple’s On‑Demand Liquidity (ODL) moved over $15 billion in cross‑border transfers for Japan’s SBI Remit, the largest external shareholder of Ripple, as the firm accelerated its XRP‑based corridors in the past 17 months [1]. The scale underscores real‑world utility for XRP and positions Japan as a pivotal market for future crypto‑ETF and stablecoin launches.
| At a glance | |
|---|---|
| Cumulative volume | ¥2.5 trn (~$15 bn) |
| 24‑hour price move | XRP flat (≈ 0 %); price unchanged |
| Milestone | First $15 bn XRP‑linked transfer total |
| Catalyst | SBI Remit’s rapid ODL expansion since 2021 [1] |
SBI Remit, the primary conduit for foreign‑worker remittances from Japan to Southeast Asia, crossed ¥2.5 trn in total transfers as of May 27, a jump from ¥2 trn reached over 14 years earlier [1]. The last ¥500 bn (~$3.2 bn) was added in just 17 months, a three‑fold increase in pace that aligns with Ripple’s ODL adoption in 2021 and subsequent corridor extensions to bank accounts in the Philippines, Vietnam and Indonesia [1]. ODL replaces pre‑funded foreign‑currency accounts with XRP as a bridge, which Ripple claims cuts liquidity costs by 60‑70 % [1]; the cost reduction is cited as the driver of the faster growth.
SBI Holdings, the parent of SBI Remit, holds roughly a 9 % stake in Ripple—the firm’s biggest external shareholder—a position it has maintained since 2016 [1]. More than half of Ripple’s global ODL volume now flows through Japanese corridors, making Japan the single most important country for Ripple’s network [1]. Regulatory momentum adds another layer: Japan’s cabinet approved an amendment to reclassify XRP and 104 other crypto assets as financial instruments on 10 April 2026, with implementation slated for fiscal 2027 and the first crypto‑ETF approvals targeted for fiscal 2028 [1]. SBI is already developing Japan’s first XRP ETF with Franklin Templeton and has become the first regulated distributor of Ripple’s RLUSD stablecoin in Asia [1].
Although the $15 bn figure proves that XRP is being used to move real money at scale, the token’s price has not risen correspondingly. ODL transactions settle in seconds, meaning XRP is bought and sold within the same trade rather than held as inventory, limiting price‑supporting demand [1]. Analysts note that XRP’s price continues to be driven by ETF‑related flows, escrow releases and speculation, not by the underlying utility in Japan [2].
The $15 bn milestone confirms that XRP is embedded in a growing, regulated remittance ecosystem, yet the token’s price remains decoupled from this utility. How the upcoming regulatory changes and ETF launches in Japan will affect XRP’s market dynamics remains the key question.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 14, 2026 · How we report
Crypto lending uses digital assets as collateral and is typically facilitated by blockchain-based platforms or centralized crypto exchanges, whereas traditional lending relies on cash or property and is regulated by financial authorities.
The two main types are decentralized platforms that operate via smart contracts and algorithmic rates, and centralized platforms that act as intermediaries similar to banks.
Lenders face risks such as the absence of regulatory safeguards, potential platform hacks or bankruptcies, and margin calls triggered by volatile crypto prices.
Yes, a partnership between SBI Digital Finance and Doppler Finance is establishing a framework for institutional XRP lending in Japan, allowing banks to lend XRP or borrow cash against it.