What to know:
- SBI Holdings partnered with the Solana Foundation, while Bill Morgan said the agreement does not weaken Ripple or XRP’s position.
- The new venture targets stablecoins, tokenized assets, institutional finance, cross-border payments, and AI-powered infrastructure across multiple blockchain networks.
- SBI maintains its longstanding Ripple partnership, reinforcing that major institutions increasingly support multiple blockchain ecosystems instead of choosing one exclusively.
Crypto lawyer Bill Morgan has rejected claims that SBI Holdings’ partnership with the Solana Foundation signals a reduced commitment to Ripple or XRP. He argued that the agreement reflects broader blockchain adoption and should not be viewed as a negative development for XRP.
Morgan shared his remarks on X following SBI Holdings’ announcement of a new blockchain venture with the Solana Foundation. While the news sparked debate among XRP supporters, he maintained that the partnership does not undermine Ripple’s position.
SBI Holdings said it will collaborate with the Solana Foundation to develop an on-chain financial market originating from Japan. As part of the initiative, SBI R3 Japan will be renamed SBI Solana Global. The Solana Foundation will join SBI Holdings and Sumitomo Mitsui Financial Group as shareholders in the new entity.
The venture plans to support stablecoins, tokenized real-world assets, institutional on-chain finance, cross-border payments, and AI-powered payment infrastructure. Consequently, some XRP investors questioned whether SBI was shifting its blockchain priorities.
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Bill Morgan Urges Investors to Keep the News in Perspective
According to Morgan, the reaction from parts of the XRP community has overstated the significance of SBI’s latest move. In his post on X, he said XRP holders do not need to justify or dismiss the announcement because it benefits the broader digital asset industry.
Morgan added that the partnership represents positive news for Solana and XDC without creating disadvantages for Ripple or XRP. Moreover, he encouraged investors to recognize that institutional firms increasingly support multiple blockchain ecosystems.
His comments resonated with several community members who noted that blockchain adoption has become increasingly multi-chain. As a result, partnerships with one network do not necessarily replace existing relationships with another.
SBI’s Ripple Relationship Remains Intact
SBI’s partnership with Ripple stretches back nearly a decade. In 2016, the companies established SBI Ripple Asia to expand Ripple’s payment technology across Asian markets. Additionally, SBI has invested directly in Ripple while supporting XRP-based payment initiatives in Japan. SBI Chief Executive Officer Yoshitaka Kitao has also repeatedly expressed confidence in Ripple’s technology and XRP’s long-term utility in cross-border payments.
The Solana partnership expands SBI’s blockchain strategy rather than replacing its existing Ripple initiatives. Large financial institutions increasingly build services across several blockchain networks to support different business needs.
The new venture reflects that approach by targeting stablecoins, tokenized assets, institutional finance, AI-powered payment infrastructure, and cross-border settlement. Therefore, the initiative broadens SBI’s blockchain footprint while preserving its established relationship with Ripple.
Conclusion
Bill Morgan believes SBI’s partnership with the Solana Foundation should be viewed as a broader industry development instead of a challenge to XRP. Although the announcement sparked debate within the XRP community, SBI’s longstanding ties with Ripple remain in place, indicating the company is expanding its blockchain strategy across multiple networks rather than replacing one ecosystem with another.
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