SBI Holdings Division Adds Support for Bitcoin and XRP Payments

SBI Motor Japan, part of Japanese conglomerate SBI Holdings, has allowed African customers to pay for used car purchases with Bitcoin and XRP.

Transactions with cryptocurrencies will be carried out by the SBI VC Trade Co platform associated with the group of companies.

The initiative was explained by the growing demand for digital assets in developing countries, especially in Africa. SBI has cited data from the World Bank, according to which in 2017 more than 1.7 billion people around the world had no access to banking services.

SBI Motor Japan partners will reportedly have to pass an AML check.

Ignite developer relations engineer Aliasgar Merchant has recently said that the SEC lawsuit against Ripple “should not prevent adoption of the technology.”