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Banks in Japan adopt Ripple tech for faster, cheaper low-value cross-border payments, moving away from SWIFT.

Market News
20 Apr 2026
Coinpaper
View Source
Bullish
pluang ai news

SBI Remit has confirmed using Ripple's distributed ledger technology in partnership with Tottori Bank to improve low-value cross-border remittances in Japan. This move aims to reduce costs and increase speed compared to traditional SWIFT transfers, which have become more expensive and complex due to new compliance standards. The shift reflects a broader trend where banks are integrating blockchain-based solutions like Ripple's XRP Ledger to optimize payment flows without fully replacing existing systems. This hybrid approach enhances efficiency and transparency, particularly in key Asian payment corridors, signaling gradual modernization in Japan's banking sector.

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