Pilot use of XRP to pay off corporate debt and credits in Japan to hit a new milestone

Japanese financial giant SBI Holdings and crypto startup FXcoin Ltd. are announcing a new achievement in their XRP pilot program.

In its digital payments experiment, FXcoin is working with the Japanese general trading firm Sumitomo Corporation to settle debts and credits to other Sumitomo Group companies using XRP.

The program has previously had success utilizing Ripple’s native token to conduct future transactions in Japan. However, late in February, FXcoin revealed that it also had success sending XRP overseas to Singapore to settle future transactions, a new milestone for the crypto startup and the Sumitomo Group.

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