SBI Ripple Asia Launches Prepaid Payment Token Platform on XRP Ledger

SBI Ripple Asia has introduced a prepaid payment token platform on the XRP Ledger, aiming to capture a share of Japan's approximately 30 trillion yen (around $200 billion) prepaid payment market. According to NS3.AI, Tobu Top Tours will be the inaugural issuer, offering Japanese-yen-backed tourism payment tokens for use in hotels, transportation, and attractions. Fintech Observer reported that SBI Ripple Asia became a registered third-party prepaid payment instrument issuer under Japan's Payment Services Act on March 26.