SBI Holdings’ CEO, Yoshitaka Kitao’s comments during a July 2018 talk became a reality after Ripple welcomed Kitao as one of its board members.

In July 2018, Yoshitaka Kitao had remarked that he could become an “official of Ripple,” which seems to have come true after Ripple announced that Kitao will be becoming a member of its Board of Directors. Ripple’s Co-founder, Chris Larsen, stated,

“I am excited to welcome Mr. Kitao to our board of directors. From conventional financial markets to digital asset markets, his deep understanding of the financial services industry will offer valuable business insights to help Ripple continue to scale… Approximately half of our customers are located in Asia-Pac today, and we’re rapidly expanding our global footprint across the region. Mr. Kitao comes at a perfect time for Ripple as we look to deepen our customer base in Asia and beyond.”

Kitao will be bringing in forty years of experience in global financial markets to Ripple. Kitao will be replacing SBI Ripple Asia’s Takashi Okita for the position on the board.

Yoshitaka Kitao is a proponent of Ripple and XRP and plans to revolutionize Japan’s payment system by leveraging digital assets. SBI Ripple Asia, a joint venture between Ripple and SBI Holdings, is working towards that goal. Further, MoneyTap, a payment solution developed by using Ripple’s xCurrent technology, is being used in Japan on a wide scale. This advancement has led SBI Holdings to set up a separate subsidiary for it called Money Tap Ltd.

Kitao’s dream of changing the face of Japan’s payment system before the Osaka Expo of 2025 is inching closer to reality owing to this latest development.

The post Ripple-SBI Holdings partnership takes the next step as Yoshitaka Kitao joins Ripple’s Board of Directors appeared first on AMBCrypto.

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