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Ripple Ally SBI Holdings Partners with Billion-Dollar Oil Company Saudi Aramco to Promote XRP and Digital Asset Investments

Collin BrownBy 03 Mins Read
Ripple XRP cryptocurreny coin in front of colorful abstract background with candlestick chart diagram
  • SBI and Saudi Aramco sign MoU, boosting digital assets and semiconductor projects.
  • Partnership may positively impact Ripple’s XRP adoption and value.

Strategic Business Innovator (SBI), a prominent partner of Ripple Labs in Japan, has advanced to the stage of signing a Memorandum of Understanding (MoU) with the world’s second-largest company by market capitalization, Saudi Aramco, on December 7th, 2023.

This partnership marks a significant milestone for SBI, furthering its objectives of establishing investment funds with local partners in the Middle East and constructing semiconductor factories in Japan in collaboration with Powerchip Semiconductor Manufacturing Corporation.

Specifically, the MoU between SBI Holdings and Aramco encompasses the following areas of business alliance:

  1. Collaboration in the field of digital assets and co-investments, leveraging both parties’ investment portfolios related to digital assets.
  2. Identification and support of Japanese startups in the digital asset sector seeking to expand their operations into Saudi Arabia, facilitating their entry and growth.
  3. Launching various projects related to semiconductor investments, including the establishment of factories in both Japan and Saudi Arabia.

Moreover, the agreement allows for potential expansion, modification, or enhancement of the terms, conditions, or scope of the current arrangement. This development is particularly significant for stakeholders in the cryptocurrency community.

As I highlighted in my recent tweet, the partnership between SBI and Saudi Aramco could potentially channel substantial oil money into the market, possibly in the billions of USD, thereby promoting the widespread adoption of Bitcoin and other cryptocurrencies.

Recent Ripple and SBI Projects/Partnerships

In 2020, Crypto News Flash (CNF) reported that Ripple’s partnership with SBI Holdings led to the launch of Japan’s first cryptocurrency fund, targeting private investors. This collaboration has since strengthened, becoming a major partnership. Furthermore, CNF recently noted that this partnership is pioneering the ‘Internet of Value’ in Japan and Asia, combining expertise and technology, which could potentially influence XRP’s price positively.

Potential Adoption of XRP

As Ripple’s largest external shareholder and a long-standing partner since 2018, SBI Holdings’ MoU with Saudi Aramco—and its potential expansion—bodes well for the adoption of XRP in their blockchain or financial interactions, which could subsequently drive XRP’s price.

At the time of writing, XRP’s price is $0.6227, reflecting a slight decline of 0.15%. For a detailed overview, please refer to the updated XRP price chart below.

I believe this SBI-Aramco partnership could be a game-changer for digital asset investments. It’s a promising time for investors to closely watch Ripple’s XRP and related market developments.

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

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