At the SBI-R3 Asia foundation, President Kitao announced at the earnings briefing! What is the outcome of the Ripple and R3 lawsuit?

SBI Holdings President and Representative Director Yoshitaka Kitao said at the 2018 April-September periodearnings briefingthat he is eager to establish the SBI-R3 Asia.

To put SBI-R3 Asia simply, it is the creation of a project using the cryptocurrency XRP by R3.

And, as a similar target, it is close to “SBI Ripple Asia,” which recently releasedthe MoneyTap (XRP remittance service).

Ripple Inc. and R3 have long faced litigation issues, and SBI, the external top shareholder of R3, has been working to resolve the conflicts between them.

Timeline and outcome of the litigation between Ripple and R3

The dispute between Ripple and R3 began in September 2017.

In September 2017,R3 Consortiumfiled a suit against Ripple Labs in Delaware and New York.

R3 claimed that Ripple had violated the pre-agreement to purchase XRP tokens (Note 1), but that lawsuit was dismissed in October 2017.

Therefore, the dispute between Ripple and R3 would be resolved in a New York court, drawing attention to the end of the litigation.

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