DSRV signs MOU with Japan’s SBI Ripple Asia to pursue joint blockchain research

DSRV, a South Korean blockchain infrastructure company, said on the 24th that it has signed a memorandum of understanding (MOU) with Japan’s SBI Ripple Asia to conduct joint research on blockchain-based remittance and payments infrastructure. SBI Ripple Asia is a joint venture between Japan’s SBI Holdings and Ripple, the issuer of XRP.

With the MOU, DSRV plans to study a cross-border payments model optimized for the regulatory environments of South Korea and Japan. The joint research will focus on linking existing financial infrastructure with blockchain technology and developing business models tailored to the two countries’ regulations and institutional frameworks. The two companies aim to advance the cross-border payments model to a level that can be applied in real-world financial operations.

The technology underpinning the research is Ripple’s proprietary blockchain, the XRP Ledger (XRPL). A DSRV official said, “The XRP Ledger has already proven its value in global financial markets,” adding, “We will refer to global cases to explore the feasibility of building remittance and payments infrastructure optimized for the institutional characteristics of both South Korea and Japan.”

SBI Ripple Asia said, “Through the joint research, we will examine the practical applicability of blockchain-based remittances and payments in the South Korea-Japan market,” and added that it will “create an executable financial services model encompassing institutional, operational and technological aspects.”

Seo Byung-yoon, co-CEO of DSRV, said, “As institutional foundations for building blockchain-based financial systems are being put in place in both South Korea and Japan, we will create a new order in the Asian economic ecosystem across diverse areas, including trade and tourist payments.”