SBI VC Trade just announced that starting today, they will begin node operation as an XRP ledger validator. The move will allow them to contribute significantly to the development of the ecosystem, which, according to experts, remains largely untapped.
In a press release, the Japanese financial giant announced that it had started operating nodes as validators on the XRP ledger today. The XRP Ledger is a layer 1 decentralized blockchain that remains largely untapped following a plethora of ongoing cases between the US Securities and Exchange Commission and Ripple Labs.
SBI VC Trade Interest in XRP Ledger
The SBI VC Trade strategic choice operates stably as a validator and is motivated by future plans to be selected to an exclusive group of Unique Node List (UNL). By actively contributing as a validator, SBI VC Trade increases its chances of being selected and registered with UNL to allow it to make more impactful contributions to ecosystem development.
The XRP Ledger was launched in 2012 and has been well-known for its fast settlement, low cost, scalability, and carbon neutrality. It has been widely accepted as the most suitable public blockchain for business use cases.
The SBI group has apparently been using the XRP Ledger in different capacities. For instance, it used the XRP Ledger through Ripple payments.
The SBI VC Trade’s Press release reads,
“This time, our company has begun operating the XRP Ledger as a validator, and by considering an operational system that reflects the voices of XRP holder customers, we will be able to utilize the XRP Ledger and handle XRP transactions more directly. We will continue to contribute to the development of the XRP ledger ecosystem as an important stakeholder.”
SBI VC Trade has already started its node operation, which was confirmed by on-chain data, assuring users that the operation is live. The Japanese financial giant’s mission is to become a dUNL validator on the XRPL, and more exciting updates are yet to come.
As part of the registered Unique Node List, as recommended by the XRP Ledger Foundation, SBI VC Trade will be part of an exclusive group that can vote on crucial matters of XRP Ledger, having a hands-on contribution to the evolving future of money with cryptocurrency and XRP Ledger.
