CEO of SBI, Newest Member of Ripple’s Board of Directors, Praises XRP Coin’s Middle East Success


According to AMB Crypto, the CEO of SBI Holdings, Yoshitaka Kitao spoke highly of Ripple’s efforts in establishing partnerships across the globe. In addition, Kitao remarked and  expounded on the firm’s positive influence on economics and of cryptocurrencies.

The praise is in relation to Ripple’s plans to offer services to everyone and not just “hotspots like the United States or Europe,”  As per the article, Ripple has been working to make things work with Arab countries and other areas in MENA (Middle East and North Africa), a region encompassing roughly 22 countries.

The positive remarks come as a result of a conference dubbed, “Ripple Regionals: MENA,” where discussions took part to see how blockchain-based cross-border transactions can be integrated into society. Turns out that Ripple has since partnered with the Saudi British Bank, in an effort to provide remittance services to India.

As per the Ripple’s Managing Director for South East Asian and MENA, Navin Gupta,

“Customers can enjoy the benefit of Ripple’s blockchain tech delivering transparent and real-time payments from KSA [Kingdom of Saudi Arabia] to India.”

In addition, the Saudi British Bank has made brief remarks regarding the newly established partnership. Here’s what they had to say:

“SABB signs a partnership agreement with Ripple Digital remittance technology to launch the international instant remittance service with Blockchain technology.”

Getting back to how impressed Kitao has been with Ripple’s efforts, on Thursday, April 25, the Ripple team introduced  Kitao as the newest member to join the firm’s Board of Directors.

Kitao has since expressed his joy in being part of the blockchain and digital assets’ sphere, one more to add to his leadership experience and specialization within the financial markets sector. Here’s as per his words:

“Blockchain and digital assets are changing the way we move around the world, and Ripple is the driving force behind positive change. I am excited by this opportunity to lend my expertise and be part of the company’s next phase of growth.”

In response, Executive Chairman of the board, Chris Larsen said:

“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 will offer valuable business and financial expertise to help Ripple continue to scale,” adding that Kitao’s entrance, “comes at a perfect time for Ripple,” as they seek to expand in Asian regions.

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