- Japanese firms SBI Ripple Asia and Tobu Top Tours will launch XRP Ledger-powered proprietary tokens for the tourism industry.
- Holders can use the unique tokens linked to NFT-based marketing initiatives for faster, cheaper, and more secure payments in dining, accommodation, shopping, and more.
SBI Ripple Asia, a joint venture between Ripple and SBI Holdings, is expanding the use case of the XRP Ledger (XRPL) to the tourism industry. The company recently forged a Memorandum of Understanding (MoU) with Tobu Top Tours to issue proprietary tokens and enable a payment system powered by the XRP token’s underlying technology.
XRP Ledger-Powered Payments for the Tourism Industry
The agreement allows customers to pay for their travel experiences, such as accommodation, dining, shopping, and more, using the XRPL-based proprietary tokens. The two companies will link the unique tokens with Tobu Top Tour’s non-fungible tokens (NFTs).
The SBI Group stated that Tobu Top Tours will be responsible for acquiring partners and affiliated stores. From there, it will develop marketing initiatives using NFTs, offering customers discounts, rewards, and other perks.
The partners will launch their new service by the first half of 2026. Besides the tourism industry, SBI Ripple Asia plans to expand the use case of its XRPL solutions to other civic purposes, including disaster relief, economic revitalization, sports, and culture.
SBI Ripple Asia and Tobu Top Tour’s New Tokens
Unlike XRP or the Ripple USD (RLSUD) stablecoin, which people can generally utilize as alternative currencies for transactions, proprietary tokens are only for specific purposes. In this case, SBI Ripple Asia’s tokens under the Tobu Top Tours partnership are only exclusive for payments with partner merchants, companies, or organizations.
The tokens leverage the XRPL public blockchain’s high-speed, low-cost trading of digital assets. The platform typically settles transactions in three to five seconds. Meanwhile, its network transaction fee comes at an extremely low price of 0.00001 XRP ($0.00003 at prevailing exchange rates).
Tobu Top Tours didn’t disclose the chain it will tap for NFT issuance. However, it’s worth noting that XRPL has its native support for such assets. Alternatively, builders and developers can use the new XRPL EVM Sidechain to bridge XRPL and Ethereum (ETH)-based assets.
About the Partners
Tobu Top Tours was founded in 1955 with a capital of 3 billion yen ($20 million). In addition to tourism, it also centers on events, corporate travel, educational travel, and regional revitalization programs.
On the other hand, SBI Ripple Asia was established in 2016 with a capital of 350 million yen ($2.34 million). Its business focuses on promoting and providing blockchain-based solutions in Japan and South Korea.
