CEO Sunny Lu’s Take about Ripple Partnering VeChain

Published by Cyber Flows on

A few days ago there has been rumor around the cryptocurrency community that a possible partnership between the Ripple network and VeChain is building up, however, the CEO of VeChain, Sunny Lu, already has his take on a possible collaboration between the two companies before now.

As a hinted by “Crypto Eri,” a prominent crypto evangelist, on Twitter,  SBI Holdings, a major partner and shareholder of Ripple, is planning to move into the VeChain space.

Crypto Eri claims it has gotten the news from a Japanese source, Bittimes, where it was stated that the SBI Holdings is planning on building a blockchain solution in partnership with CTIA for exportation of rice. The deal will also involve Hakusho Market to export and sell rice to North America, Hong Kong, and Singapore.

Reports of the proposed partnerships above however sparked up the rumor in the cryptocurrency community that Ripple is planning to sign a partnership deal with VeChain. A cryptocurrency enthusiast also remarked on Twitter that another source of the rumor was the recent strategic integration of CREAM into VeChain.

Nevertheless, an interesting part of the hearsay is that SBI Holdings has been known as a long time investor of Ripple. They are undoubtedly one of the most important partners of Ripple as they had been involved in promoting the adoption of XRP.

The SBI Holdings, in partnership with Ripple launched, MoneyTap remittance mobile application, and it has gotten investments from more than 34 banks. Recently, SBI Holdings announced that it will be integrating the Ripple-powered MoneyTap applications in ATM across the country.

VeChain’s CEO Optimistic About Partnering  Ripple

VeChain CEO, Sunny Lu, has explained that VeChain and Ripple could be a good partner in the future. Lu explained this while participating in an interview with “Digital Asset Investor” on YouTube.

Although the interview was held prior the partnership rumor flying around the crypto space, the CEO’s assertion is a confirmation that he also wishes Ripple and VeChain partners, probably in the nearest future.

Lu said he feels the two companies will make a good partnership due to their different area of focus, pointing out that XRP is focused on payment solution while VeChain is dedicated to ensuring transparency within the supply chain industry.

Lu said the combination of the two, focused on different areas, will be a great collaboration within the industry. When he was asked if he had discussed the partnership with Ripple, Lu said he is presently focused on building the environment and the ecosystem first.


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