The head of SBI Holdings Yoshitaka, Kitao said that the company is Ripple and its XRP token will revolutionise the cryptocurrency market, ZyCrypto reports citing Japanese edition CoinPost.

According to Kito, the Japanese conglomerate will support a startup from San Francisco:

“We will strongly contribute to the mass adoption and practical use of the virtual currency XRP. We’ll also give you the tools to institutional investors were able to access the digital currency”

Also the head of the SBI expressed the view that XRP will eventually surpass the market capitalization of bitcoin:

“In essence, bitcoin is valueless. The current price of bitcoin is more and more difficult its practical use. So I think that XRP is likely to become scriptaction No. 1. We are committed to this”

We will remind, recently it became known that the financial holding company JPMorgan created their own stablon JPM Coin. Some members of the crypto community believe that this coin is able to destroy the company Ripple and its XRP token used for cross-border transfers.