Is Ripple's On-Demand Liquidity service using XRP live for Japan to Philippines remittances?

Confirmed Published October 7, 2026 2 min read

Yes, according to Ripple. Ripple states on its SBI Ripple Asia page, as of October 3, 2026, that its On-Demand Liquidity service using XRP as a bridge currency is already commercialized in Japan, with SBI Remit offering Philippines remittances with Coins.ph and VC Trade. The first live implementation launched on July 28, 2021.

The full answer

Is the service live?

Ripple says it is. On October 3, 2026, Ripple’s SBI Ripple Asia page stated that its On-Demand Liquidity (ODL) service, which uses XRP as a bridge currency, is already commercialized in Japan. It names SBI Remit as the operator, offering fast, low-cost remittances to the Philippines with Coins.ph and VC Trade [1]. This is Ripple’s own description, not an outside audit. The page does not carry a date.

When did it start?

Ripple announced on July 28, 2021 the launch of RippleNet’s first live ODL implementation in Japan [2]. SBI Remit said the same day that it had started remittance services for the first time in Japan based on Ripple’s ODL system using XRP [3]. In a September 6, 2023 release, SBI Remit described its 2021 service as the first in Japan to use Ripple Payments, with XRP as the bridge between two fiat currencies, for transfers to a digital wallet in the Philippines [4]. The same release says SBI Remit had used Ripple Payments since 2017 [5]. An SBI Group release from that date also refers to a service using XRP for bank account remittance to the Philippines [5].

Who actually handles the XRP?

The Ripple page that describes the service is the SBI Ripple Asia page. SBI Ripple Asia states there that it does not handle XRP at all and sends XRP questions to exchanges [1]. SBI Ripple Asia sells RippleNet software to financial institutions. The XRP is used inside the remittance flow run by SBI Remit and its partners. For how XRP is used in the flow, see how Ripple’s On-Demand Liquidity uses XRP and how SBI uses XRP for Japan remittances.

How big is it?

As of October 7, 2026, Ripple and SBI have published no current volume for this corridor. A May 30, 2026 24/7 Wall St. article said the corridors generating most of the volume it discussed run through Japan, the Philippines and Mexico [6]. That is a secondary report and does not give a figure for this route. Readers weighing what the corridor means for XRP demand can compare it with the wider evidence on whether banks actually use XRP and with the strongest bullish case for XRP.

What is the limit of this evidence?

The 2021 launch is documented by two parties. The current-status wording comes from Ripple alone, on an undated page. As of October 7, 2026, neither Ripple nor SBI has published transaction counts, XRP volume or the date of the latest check for this corridor. For Ripple’s wider direction, see whether Ripple is abandoning XRP.

What we know

On October 3, 2026, Ripple’s SBI Ripple Asia page stated that its On-Demand Liquidity service using XRP as a bridge currency is already commercialized in Japan, with SBI Remit offering fast, low-cost remittances to the Philippines with Coins.ph and VC Trade. The page carries no date of its own.
Ripple said on July 28, 2021 that it was launching RippleNet’s first live On-Demand Liquidity service implementation in Japan.
SBI Remit said on July 28, 2021 that it had, for the first time in Japan, started remittance services based on Ripple’s On-Demand Liquidity system using the crypto asset XRP.
SBI Remit said on September 6, 2023 that in 2021 it was the first international money transfer provider in Japan to use Ripple Payments, which uses XRP as a bridge between two fiat currencies, for transfers from Japan to a digital wallet in the Philippines.
On the same Ripple page, SBI Ripple Asia says it does not handle XRP itself. The page directs XRP trading questions to exchanges.

What we reason Analysis

Ripple’s statement and the 2021 launch releases from Ripple and SBI Remit agree on the corridor, the parties and the use of XRP as the bridge. That supports reading the service as live in 2021 and described as live by Ripple in October 2026. Neither source gives a recent transaction count or XRP volume for this corridor, so the size of current use cannot be read from them.
SBI Ripple Asia sells software and does not handle XRP, while SBI Remit and its partners run the remittance service. XRP use therefore sits with the remittance operators, not with the SBI Ripple Asia company named on the page.

What's still open

As of October 7, 2026, Ripple, SBI Remit and SBI Group have published no figure for how much XRP the Japan to Philippines corridor moves today.
As of October 7, 2026, the Ripple page that states the service is commercialized carries no publication date, so when that wording was last confirmed is not stated.

In plain English

Ripple says one of its payment services, which uses the XRP token as a go-between currency, is already in commercial use in Japan. A Japanese money-transfer company, SBI Remit, uses it to send money to the Philippines together with two partner companies. The first live version began in July 2021. No public figure shows how much money or XRP moves through this route today.

Sources

SBI Ripple Asia company page — Ripple, 2026-10-03 (page undated; read on this date) Company-reported
Ripple Launches On-Demand Liquidity with SBI Remit To Accelerate and Grow Cross-Border Payments from Japan — Ripple, 2021-07-28 Company-reported
Release on first Japan remittance service using Ripple's ODL — SBI Remit, 2021-07-28 Primary
SBI Remit release on Ripple Payments — SBI Remit, 2023-09-06 Primary
SBI Group news release — SBI Group, 2023-09-06 Primary
XRP, Ripple vs. Stellar (XLM): which wins the cross-border payments race — 24/7 Wall St., 2026-05-30 Secondary

Update log

October 7, 2026 — Published.

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