Japanese financial giant SBI Holdings has announced plans to issue a non-fungible token (nft) on the XRP Ledger (XRPL), designed specifically for the upcoming EXPO 2025 in Osaka, Japan. This initiative represents a major step forward in the adoption of nft and blockchain technology at large-scale international events.
SBI Holdings Boosts EXPO 2025 NFTs with XRP Ledger
SBI Holdings, a long-time Ripple partner and investor, is spearheading this project. They are collaborating closely with other major financial institutions, including SMBC Group, Resona Group and Mitsubishi UFJ Financial Group, forming a consortium to operate the “EXPO2025 digital wallet.”
This wallet service will facilitate the acquisition and viewing of the original Expo exclusive nft called “Myakun!” Wrathof Kahneman, a well-known member of the community, unearthed Information from the latest SBI report highlighted key details in a recent statement via X:
Ripple partner and investor SBI Holdings will use XRPL to issue an nft for EXPO2025 in a digital wallet operated by a consortium inc. other partners SMBC, Resona and MUFG. The nft will be available on a dedicated SBI VC Trade website.
The EXPO2025 Digital Portfolio is fundamental to this initiative. The wallet, along with a dedicated website developed by SBI VC Trade, will allow users to store and view “Myakun!” NFTs. This venture between SBI VC Trade and SBINFT marks an important step in the exploration of the nft domain.
SBI Holdings emphasized the versatility of Ripple's technology, stating: “The XRP Ledger blockchain has the ability to tokenize not only XRP but also a variety of other assets.” Furthermore, they noted that this effort aims to “promote new technologies, including NFTs, that are expected to grow in the future, supporting Expo 2025 Osaka, Kansai and sharing them with the world.”
EXPO 2025, sanctioned by the International Exhibition Bureau, is expected to attract some 28.2 million attendees. SBI Holdings aims to enrich the visitor experience by integrating the “Myakun!” nft at the event. This exclusive, non-transferable nft is not available for resale, increasing its uniqueness and value.
Ripple's role and SBI's commitment
The decision to use XRP Ledger for this nft initiative reaffirms SBI Holdings' confidence in its partnership with Ripple. Despite facing legal challenges, SBI has consistently supported the fintech company and integrated its on-demand liquidity (now Ripple Payments) for efficient cross-border transactions.
To this end, both companies have formed SBI Ripple Asia, which aims to provide RippleNet to financial institutions and money transfer services in Japan, South Korea and specific Southeast Asian countries.
The community, often called the XRP army, has reacted positively to this news and hopes that the nft launch will surpass the success of previous XRPL-based projects, such as the Ducati nft project, which never gained traction.
At press time, XRP was trading at $0.56998.
Featured image created with DALL·E, chart from TradingView.com
