• 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.”


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTC

VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTC

Bitcoin declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.

More Bitcoin News

Ethereum Classic price sets for a rally following retest of key support

Ethereum Classic price sets for a rally following retest of key support

ETC edges higher by 2.3% and trades around $22.60 at the time of writing on Friday after testing a key support area the day before. On-chain data showing increased account growth suggests a bullish move ahead. Ethereum Classic price faced rejection by the daily resistance level of $25.13 earlier this week.

More Ethereum News

Celebrity meme coins lose their shine

Celebrity meme coins lose their shine

Celebrity meme coins report by Jupiter Slorg on Thursday shows that these tokens have been in deep waters since early July after experiencing heavy growth in June. In a recent analysis, Jupiter Slorg revealed that celebrity meme coins are down by an average of 94% from their all-time highs.

More Cryptocurrencies News

Ripple gains 5%, Mark Cuban says Kamala Harris’ nomination could affect SEC lawsuit

Ripple gains 5%, Mark Cuban says Kamala Harris’ nomination could affect SEC lawsuit

Ripple (XRP) made a comeback above key psychological resistance early on Wednesday. Crypto traders are optimistic after the Ethereum Exchange Traded Fund (ETF) launch. Entrepreneur and investor Mark Cuban recently shared his comments on how Kamala Harris’ nomination to the Presidential elections could influence crypto regulation. 

More Ripple News

Bitcoin: Will BTC manage to recover from recent market turmoil?

Bitcoin: Will BTC manage to recover from recent market turmoil?

Bitcoin recovers to $67,000 on Friday after finding support around $63,500 a day before. Still, BTC losses over 1.50% on the week as Mt. Gox persists in transferring Bitcoin to exchanges.

Read full analysis

BTC

ETH

XRP