TLDR
- Tottori Bank and SBI Remit will begin international remittance services on April 20, 2026.
- The tie-up marks the 26th financial institution partnership for SBI Remit in Japan.
- SBI Remit said it uses Ripple DLT for low-cost and round-the-clock remittance services.
- The service targets foreign workers and firms that need simple money transfer support.
Tottori Bank and SBI Remit will start international money transfer services on April 20, 2026. The move links a regional lender with a remittance firm that uses Ripple-related technology. The service will focus on foreign workers and local employers in Tottori Prefecture. It also expands SBI Remit’s bank partnership network to 26 institutions.
Service starts with focus on foreign workers in Tottori
SBI Remit said it signed an advertising and promotional agreement with Tottori Bank. The company said services will begin on April 20. Tottori Bank is based in Tottori City. SBI Remit is based in Tokyo.
The companies said the service comes as foreign workers play a larger role in local industries. Tottori Prefecture has seen growth in foreign workers and in firms hiring them. That trend has increased demand for simple financial services. Remittances to home countries remain one of those basic needs.
SBI Remit said foreign customers now want faster and cheaper transfers. It also said users want access at all hours through apps. Another need is support for more ways to receive funds. That includes e-wallet options in some destination markets.
The company said the partnership will make its small-value remittance service easier to access. It said this will support both workers and employers in the region. Tottori Bank’s local reach may help raise awareness of the service. The bank serves customers mainly in the San’in area.
SBI Remit points to Ripple technology and multilingual support
SBI Remit said it has worked since 2010 to provide remittance services for foreign residents in Japan. The company said it has added new financial tools to improve speed and cost. It named Ripple’s distributed ledger technology as part of that effort. The firm also said it provides customer support in 12 languages.
In its statement, SBI Remit said it offers “secure, low-cost, and fast international remittance services.” It also said it provides support in several languages. The company presented this as part of its financial inclusion effort. That message was tied to foreign workers living in Japan.
SBI Remit also referred to its role as a bank agent for Sumishin SBI Net Bank. It said this has allowed it to offer salary deposit accounts for foreign workers. The company named technical interns and specified skilled workers as examples. It said this creates a combined service for salary deposits and remittances.
That combined offer may help workers manage daily finance needs in one place. It may also help employers that support overseas staff. SBI Remit said awareness of its services has been growing. It linked that growth to both workers and hiring companies.
Banks face rising compliance work and search for simpler operations
The company said financial institutions face more work in international remittance operations. It cited stronger AML and CFT requirements. It also referred to ISO 20022 compliance. These rules have added more operational tasks for banks.
SBI Remit said the partnership may help banks using SWIFT reduce part of that workload. It said outsourcing small-value remittances could ease some pressure. The company linked this to administrative demands tied to ISO 20022. It also said customers still expect faster and easier services.
In its release, SBI Remit said the partnership is “expected to be an effective measure” for financial institutions. The company tied that statement to remittance operations and customer service. Tottori Bank did not announce a separate technical change in the text provided. The focus remained on service access and operational support.
This setting gives the partnership a wider banking context. Regional lenders are serving changing local workforces. At the same time, they are managing more compliance duties. That has pushed some banks to work with specialist providers.
XRP market talk continues after analyst posts price targets
The service launch also drew attention from XRP market watchers on social media. Posts about the deal said SBI Remit actively uses Ripple’s DLT. Some users added that XRP can act as an optional bridge asset where liquidity is available. That point did not change the main service announcement.
Separately, market analyst EGRAG CRYPTO shared a new XRP chart. He described the setup as an “Inverted Reality.” The chart pointed to price targets of $17, $27, $35, and $42. He said the pattern was based on repeated measured moves after consolidation.
His post said “Flip the chart… and everything changes.” It also asked readers to define the targets from the inverted view. The chart analysis remains separate from the remittance launch. Still, both items added to fresh XRP discussion this week.
For the companies involved, the central development is the April 20 launch. Tottori Bank gains access to a remittance partner with an existing network. SBI Remit adds another regional bank relationship. The service begins with a clear local use case tied to foreign workers and employers.
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