Are Ripple And VeChain About To Start Strategic Partnership?

The latest rumors about Ripple and Vechain starting a new partnership emerged today through SBI, but there is no hard evidence still. Vechain’s CEO Sunny Lu stated in an interview that both companies could really be good partners so let’s read more in the upcoming VEchain news.

A few days ago, new rumors about Ripple and Vechain partnering came into the crypto community but it actually flew under the radar for many. If it’s true, however, it will be exciting for many crypto enthusiasts, as Crypto Eri reported via Twitter, SBI Holdings plans to build a traceability system for agriculture based on the Vechain blockchain:

@CREAMethod I noticed you liked this tweet. I don't see any mention of $VET in the press releases….
Should we consider your like as a "yes" because of NDA?

— Crypto_Ed_NL (@Crypto_Ed_NL) July 3, 2020

“SBI Holdings is getting into the #VeChain space. Traceability as a service. Building a supply chain platform for agricultural products utilizing blockchain/distributed ledger technology.”

Crypto Eri cited an article from the Japanese Bittimes but there is no clear, hard evidence that the SBI holdings rely on VeChain’s technology which makes it unclear how the information came about. The article simply stated that SBI Holdings will create a blockchain solution in cooperation with CTIA Co, LTC which handles the blockchain businesses and Hakusho Market Co. LTD. SBI Holdings and CTIA will try and create a supply chain platform for rice export while Hakusho Market will export and sell rice to North America, Singapore, and Hong Kong. This is why it is questionable which source Crypto Eri is referring to. Another Twitter user remarked:

“What is exciting about the speculation is that SBI Holdings is known to be an investor in Ripple. The group of financial services companies based in Tokyo is undoubtedly one of Ripple‘s most important partners and has launched various projects in Japan in the past to promote the adaptation of XRP. In addition to MoneyTap, SBI recently announced Japan’s first crypto fund, which will hold 50% XRP.”

Surprise Answer to @vechainofficial top competitors and potential partners. @ripple #xrp pic.twitter.com/06PkgaXXzz

— Digital Asset Investor (@digitalassetbuy) July 2, 2020

Another indication for the partnership could come from VeChain CEO Sunny Lu himself while around the same time the rumor was spread by Crypto Eri, Lu spoke in an interview about the Digital Asset Investor on YouTube and the biggest challenges Vechain has to tackle. Lu explained that Ripple and VeChain could be good partners. Lu said:

“Well, let’s make it Ripple, XRP. Well, I mean, we could be good partners in the future I would say because we are focused on different things. We are focused on business activities, non-financial applications, while XRP is focused on payment solutions which could be a good combination.”