SBI Motor Japan, a subsidiary of Japanese conglomerate SBI Holdings, has just started offering its customers in Africa the possibility to pay for used cars with Bitcoin and XRP.
Cryptocurrency transactions will reportedly be carried out by the SBI VC Trade Co platform, which is associated with the group of companies.
The company has made the decision due to the growing demand for digital assets in developing countries, especially in Africa. SBI has reported that, according to World Bank data, more than 1.7 billion people worldwide were unbanked in 2017.
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SBI Motor Japan partners will be subject to AML compliance checks.
Aliasgar Merchant, developer relations engineer at Ignite, has said the SEC's lawsuit against Ripple "should not impede adoption of the technology."