SBI Motor Japan has announced that its customers can now make payments for used cars using Bitcoin and Ripple.
SBI Motor Japan is a subsidiary of SBI Africa Co. Ltd.
According to the announcement by SBI, the development marks the first time XRP cryptocurrency will be deployed on a cross-border e-commerce website in Japan.
The BTC and XRP transactions will be settled on the SBI VC Trade Co. Ltd, a cryptocurrency exchange owned by the SBI Group.
SBI stated that aside from adding BTC and XRP settlements, it would continue to support other significant projects that serve the demands of its expanding client base.
This move is seen as a positive step forward for Ripple, which has been struggling with a lawsuit filed in 2020 for selling unregistered securities in the form of XRP.
The lawsuit has dealt a devastating blow to XRP and its holders, who have seen some platforms cease support for digital currency.