SBI Bank presents Crypto Asset Fund with 50% XRP stake

The Japanese SBI Bank has long been known for its collaboration with Ripple, but the popularity of XRP should now also be promoted. As the banking group announced in a new management report, it will soon start with a crypto-asset fund. 50% of the investments should go to the cryptocurrency XRP.

SBI crypto funds: 50% XRP and more than 25% Bitcoin (BTC)

So that prospective buyers do not have to register on a stock exchange to be able to buy cryptocurrencies, more and more banks will also offer to buy digital assets in the future. The Japanese SBI Bank will soon become a pioneer in this area. As she announced in a new report dated June 26, you will soon be using a crypto fund start.

The fund survey should start this summer, so it won't be long now. The crypto-asset fund is offered in collaboration with a company that currently remains anonymous. Its purpose is to help investors diversify their investments and invest in cryptocurrencies in an asset class that does not correlate too strongly with stocks and bonds.

However, there are surprises in the distribution of investments across the respective cryptocurrencies. While most funds would probably invest in Bitcoin, the world's largest cryptocurrency, SBI is taking a different path. The crypto fund invests a large part with 50% in the fourth largest cryptocurrency in the world XRP. More than 25% of the investments go to Bitcoin (BTC), the rest to Ethereum (ETH).

Source: sbigroup.co.jp

XRP popular in Japan

SBI is not only working on a crypto fund with a large stake in XRP, but also plant to use Ripples technology for ATMs across the country. The use of the technology should make it easier for Japanese people to access the machines. It is not yet known whether XRP should be used for this or not.

The Japanese bank shares interest in the blockchain company Ripple and the cryptocurrency XRP with the inhabitants of the island nation. As the survey by the Bitcoin exchange Bitmax shows, many of the survey participants prefer the cryptocurrency XRP over other well-known assets such as Ethereum (ETH).

A total of 25% of the respondents stated that XRP is their most popular cryptocurrency, which is only one percent behind Bitcoin:

Japanese love Ripple (XRP): survey shows the popularity of the cryptocurrency among investors

 

Markus from Kryptokumpel.de
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