- The World Expo in Osaka will see XRPL host NFTs to potentially reach almost 30 million people.
- Ripple is gaining a larger foothold in Asia, utilising XRP for cross-border payments.
- XRP has left behind the USD 50 Cents mark in the current crypto rally.
SBI Holdings announced the launch of an original NFT service for the Osaka-Kansai Expo, named “EXPO2025 Digital Wallet NFT (Myakoon!).” The NFTs, issued on the XRP Ledger can be collected through participation in Expo events, and the service is integrated with the “EXPO2025 Digital Wallet” mobile app, which offers various financial services for the Expo.
XRP in Osaka
Attendees of the Osaka-Kansai Expo can earn “Myakmyak” NFTs by participating in events or completing missions, with “Myakmyak” being the Expo’s official character. The “Myakoon!” NFT offers benefits when using the electronic money “Myakpe!” or accumulating “Myakpo!” points, allowing users to access rarer NFTs.
Various other NFTs related to “Myakoon!” are available, including collaborations with sponsor companies. SBI Holdings sponsors the “EXPO 2025 Digital Wallet” project, which offers a range of financial services, including NFTs, and has launched a mobile app for both Android and iOS.
SBI Holdings, which is a partner of Ripple, will be using the XRP Ledger for NFTs during the World Expo. Ripple VP for Strategy Emi Yoshikawa said she is excited that a huge audience will be able to experience the XRPL. It is expected that up to 28.2 million people will visit and be able to participate in events involving the NFTs.
SBI and Ripple are expanding their operations in SouthEast and East Asia. The two companies, which have a longstanding partnership, aim to develop global infrastructure for the future financial system.
XRP Development and Price
Following the recent legal clarity and ongoing expansion of Ripple’s payment rails, XRP is experiencing a price rally with the overall market.
SBI Remit, a part of SBI Group, announced its plans to offer cross-border money payments to Vietnam, the Philippines, and Indonesia using XRP as a bridge currency. Having initiated payments through Ripple in 2017, they launched international transfers using a crypto wallet in the Philippines in 2021, becoming the first in Japan to do so.
With the aim of providing fast, affordable, and scalable transfers, SBI is expanding this service due to the high remittance demand in these countries. The transfers will use XRP in real-time, with SBI collaborating with Tranglo, another Ripple partner, for currency conversions.
Additionally, Japanese banks Yamaguchi, Momiji, and Kitakyushu recently adopted the RippleNet-based MoneyTap app, indicating the growing adoption of crypto services in Japan.
At the time of writing the crypto market continues to soar, with all major assets making hefty gains. According to CoinmarketCap, XRP is up 4% in 24 hours and is currently trading at US $0.546 ($0.859).
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