SBI Ripple Asia Launches Token Issuance Platform on XRPL

Key Insights

• SBI Ripple Asia, a JV between SBI Holdings and Ripple Labs, is launching a token issuance platform powered by XRPL.
• The platform will serve as a programmable payments layer for merchants to integrate and enable dittos token payments.
• Despite positive development, XRP continues to struggle, but analysts expect a rebound.

SBI Ripple Asia has developed a token issuance platform for the XRP Ledger, the blockchain network for XRP. The company announced this in a press statement, noting that it has also registered to become a third-party issuer of prepaid payment instruments.

The announcement marks a milestone for the company, a joint venture between Japan-based financial services firm SBI Holdings and Ripple Labs.

SBI Positions XRPL as Payment Infrastructure for Asia

According to the announcement, SBI Ripple Asia’s recent initiatives aim to build a regulated blockchain-based financial infrastructure. With the token issuance platform, the company is launching a programmable payment layer for businesses.

Through it, businesses can integrate digital tokens into their websites and applications via APIs. This way, existing merchant interfaces can support digital asset payments without affecting the experience.

It said:

“Businesses can introduce token functionality while maintaining their existing services and customer touchpoints, and users can naturally own and use digital assets without disrupting their previous service experience.”

Interestingly, the platform also has proprietary wallet technology that complies. The firm noted that compliance requirements for different prepaid payment instruments were factored into the platform’s development.

This explains why SBI Ripple Holdings obtained a regulatory license as an issuer of third-party prepaid payment instruments under the Payment Services Act on March 26. It stated that the registration allows the firm to issue tokenized payment instruments on the platform.

Meanwhile, the company is targeting the adoption of the system in specific economic zones such as tourist destinations. It noted that the goal is to incentivize the adoption of blockchain technology while remaining compliant with regulations.

XRP Slides Further Despite Increased XRPL Adoption

SBI Ripple Asia’s move represents another positive expansion for XRPL in Asia. Since Ripple and SBI Holdings entered a joint venture in 2016, products within the Ripple ecosystem have been gaining traction in the region.

A 2025 report shows that the Asia-Pacific region leads in XRPL adoption. This explains why Ripple continues to host several conferences in the region while launching a $500 million fund in Japan.

Interestingly, XRPL has also seen increased activity with the number of daily addresses rising significantly this year.  However, the positive network performance has not improved XRP performance.

XRP is down almost 2% today, falling to $1.31 as it struggles to break out. The token has been in the $1.3 range for most of the last three months since falling from $2. It is now down 30% year-to-date.

Despite the performance, analysts believe XRP could rebound, citing onchain data. Santiment analysts noted that wallets active on XRPL are down 41% on their investment over the past year. This is the lowest MVRV (Mean Value to Realized Value) for XRP traders since the FTX crash in November, 2022.

They believe this is a sign of potential turnaround in the near future, noting:

“Because cryptocurrencies are zero sum trading games, significantly negative average returns (not just a price drop, but actual trader returns) imply that there is much lower risk than average in buying or adding on to your $XRP positions, due to the fact that competing traders are already in severe ‘blood in the streets’ territory.”

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