Japan is set to become a pioneer in digital currency integration as banks across the country plan to adopt XRP for transactions starting in 2025. This initiative will enable customers to make payments with XRP nationwide, both online and offline, at participating merchants.
A new earning mechanism will also be introduced through the XRP Ledger System CryptoTradingFund (CTF). Customers using XRP for payments will receive CTF tokens as rewards, which can be redeemed for products or sold for fiat currency. The limited supply of CTF tokens and anticipated surge in demand could drive their value from $0.72 to $498, making them a potentially lucrative asset for early adopters.
SBI, one of the world’s leading financial services firms, is playing a key role in driving XRP adoption through its SBI VCTrade platform, set to launch in March. This platform will allow verified members to purchase XRP and other tokens using the Japanese Yen.
The increased liquidity and cross-border transaction facilitation brought about by XRP adoption are expected to boost international trade volumes. Japan’s Central Bank, supported by industry giants like SBI, is signaling a significant shift in the global financial landscape. With potential for increased cross-border trade and rising CTF token values, Japan is setting a new standard for digital currency integration on a national scale.
By 2025, Japan could become a global leader in digital currency usage, with every bank leveraging XRP to power seamless, efficient, and rewarding transactions for its customers.
Source: https://www.crypto-news-flash.com/japans-central-bank-officially-announces-every-bank-in-japan-will-adopt-xrp-by-2025/