As part of the Japanese conglomerate SBI Holdings, the firm SBI Motor Japan has allowed African customers to pay for used cars with Bitcoin and the XRP token.
Cryptocurrency transactions will be carried out by SBI VC Trade Co., a platform affiliated with the group.
The initiative was explained by growing demand for digital assets in developing countries, particularly in Africa. SBI cited World Bank data showing that in 2017 more than 1.7 billion people worldwide did not have access to banking services.
Partners of SBI Motor Japan will have to undergo AML-compliance checks.
Aliasgar Merchant, a developer relations engineer at Ignite, told Cointelegraph that the SEC lawsuit against Ripple “should not hinder the deployment of the technology”.
Earlier, the startup’s CEO Brad Garlinghouse positively assessed the course of the company’s dispute with the SEC, predicting its conclusion by the end of 2022.
As reported, one of Australia’s largest banks, National Australia Bank, together with Canadian Imperial Bank of Commerce selected the Ripple technology for international payments.
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