SBI Holdings: Ripple’s XRP to Surpass Bitcoin by Market Cap
- Yoshitaka Kitao, the President and Representative Director of SBI Holdings, thinks that XRP will surpass Bitcoin’s market cap because BTC doesn’t have a primary use case.
- SBI is also going to be using XRP for international remittances on the Corda Settler platform which is going to further increase its utility.
Yoshitaka Kitao, the President and Representative Director of SBI Holdings, believes that in 2019, Ripple (XRP) will exceed the market cap of Bitcoin (BTC). Kitao thinks that Ripple’s growth will be boosted by the fact that XRP is going to be adopted at the global level and that BTC doesn’t have a primary use case. He said:
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
Another factor behind XRP’s growth could be its cooperation with US-based distributed ledger technology company R3, which SBI is actively involved in. SBI is going to use XRP for international remittances on the Corda Settler platform. Kitao said:
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
