A prominent figure in the XRP community has expressed that the fourth largest altcoin, XRP, would be a significant player in Vietnam’s payment landscape.
In a recent statement on X, Yassin Mobarak, the founder of Dizer Capital, shared his thoughts about XRP in the Asian payment ecosystem.
Mobarak’s remark came amid a claim suggesting that the Vietnam Central Bank was exploring the feasibility of incorporating XRP for cross-border payments within Vietnam and internationally.
In response, Yassin Mobarak proclaimed, “XRP will be big in Vietnam.”
$XRP will be big in Vietnam. https://t.co/FHSewyMoW5
— Yassin Mobarak 🪝 (@Dizer_YM) January 13, 2024
However, crypto enthusiasts appear unfazed by the development, given XRP’s persistent underperformance over time despite multiple adoptions. An X user commented:
“We have been hearing about how big XRP will be for 5 years now. Will still keep hearing about it.”
XRP in Vietnam
Meanwhile, it is worth mentioning that the recent information about the adoption of XRP in Vietnam is not an entirely new development.
In September 2023, SBI Remit, the subsidiary of the crypto-focused division of financial giant SBI Japan, moved to transform global remittance services in three Asian countries.
In particular, SBI Remit launched the remittance service utilizing XRP, focusing on bank accounts in Vietnam, the Philippines, and Indonesia. The service was in collaboration with Ripple, SBI Ripple Asia, and Ripple’s partner Tranglo.
According to the notification from SBI Remit, venturing into these Asian markets aligns with its longstanding business strategy of leveraging XRP for cross-border payments.
Moreover, SBI Remit stressed that the Philippines, Vietnam, and Indonesia represent significant hubs for remittances directed to bank accounts. This made them ideal targets for XRP adoption, according to SBI Remit.
While SBI Remit’s initiative initially focused on three Asian countries, the firm affirmed its dedication to extending its reach to additional jurisdictions.
Specifically, SBI Remit outlined plans to expand the number of countries included in its services.
