Cryptocurrencies have begun to be accepted by companies operating in every field from clothing to health, from entertainment to technology. Most recently, SBI Motor Japan, a Tokyo-based used car dealership, announced that it has started receiving payments with the leading cryptocurrency Bitcoin (BTC) and Ripple (XRP). With this move, customers who want to buy used cars will be able to pay with BTC and XRP.
Payments in BTC and XRP will be received through SBI VC Trade, SBI Group's cryptocurrency exchange. SBI said that the platform that receives cryptocurrency payments will use appropriate security measures to prevent cryptocurrencies from being used for money laundering and terrorist financing.
In addition to adding BTC and XRP payment options, SBI said in a statement that it has an expanding customer base and will continue to support other projects in line with the demands of its customers.
"Although it is only BTC and XRP for now, this will change and expand in the near future. Because we expect the demand for the use of cryptocurrencies in remittances to increase. In this context, we plan to increase the number of cryptocurrencies that can be used for payments in the future."
Finally, Ripple has an important link with the Japanese financial giant SBI Group, which is also interested in securities, banking and other sectors. SBI is a major investor and shareholder of Ripple, the company behind XRP. In this context, it was not surprising that SBI accepted XRP along with Bitcoin.
XRP price hovered around $0.505 at the time of writing, while the last 24-hour trading volume of XRP was $3,135,959,090, according to CoinGecko data. XRP price is down -11.3% in the last 24 hours. Bitcoin is changing hands at $30.9 with a 24-hour trading volume of $45,392,531,815. BTC price is down -9.4% in the last 24 hours.