• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Ripple to Now Invest in MoneyTap, an App Powered by SBI Ripple
Ripple

Ripple to Now Invest in MoneyTap, an App Powered by SBI Ripple

July 30, 2019 by Muhammad Ali Hassan

Back in Oct 2018, SBI Ripple launched a mobile app, ‘MoneyTap’ in Japan. MoneyTap uses Ripple’s service to allow bank-to-bank money transfers in real-time.

In a recent financial report of SBI Holdings, Inc. for the 1st quarter of 2019, it was stated that Ripple is offering to invest in MoneyTap. MoneyTap already uses Ripple’s services to transfer money. The report further adds that MoneyTap is also ready to begin international transfer services very soon.

About SBI Ripple Powered App ‘MoneyTap’

MoneyTap is a Japanese mobile application platform that was launched back in late 2018 with the collaboration of SBI Holdings and Ripple. The core focus was to connect different banks at one channel and provide customers with this exclusive service.

With the time more advancements have been made in the app, with Ripple wanting to enter significant capital into the online platform. According to the report, MoneyTap has collaborated with 25 Capital-Participating Banks, 8 API Platform Connected Companies and with U.S. Ripple.

MoneyTap is the only network in Japan that provides Swish-type Solution. This adds more variety to the MoneyTap with allowing 24/7 immediate inter-bank remittance application without charge throughout the year.

Moreover, in addition to account number designation remittances, mobile phone number designation and QR code remittances are also possible. It, in short, is a highly efficient and low cost “next-generation infrastructure” platform that previews fintech.

https://twitter.com/XrpCenter/status/1156187373996261376

Ripple to Investment in MoneyTap Itself

The 2019 financial report published by SBI Holdings, Inc., hints:

“At a stage where the acceptance of investments from domestic financial institutions has been completed, Money Tap will now consider accepting an investment from U.S. Ripple, in order to strengthen technical cooperation and the promotion of initiatives related to international remittances.”

In the above statement, it seems that Ripple is going to invest in MoneyTap, which will help the company to make full efforts to support the technology applications and marketing of new services. Ripple’s investment will be an advantage for MoneyTap to improve and enhance its growth across the state.

Conclusion

Ripple is in the news every single day as the blockchain firm keeps boosting its adoption across the globe. Its products xCurrent and xRapid have proved to be a new sensation for the world’s banking system.

Ripple seems to amaze different banks, and it undoubtedly has become a new wedge of the world financial system. Consequently, it would be safe to say that we have seen much of Ripple and there is much more to come in the future with its exciting technology.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News Tagged With: Banks, Ripple (XRP)

Primary Sidebar

Recent Posts

  • Gokhshtein’s Ethereum Tweet Amidst zkSync’s Launch Of World’s First zkEVM Mainnet? March 26, 2023
  • Shiba Inu Releases Documentation For Shibarium Beta: A Low-Cost Blockchain Solution March 26, 2023
  • Polygon Prepares For Mainnet Beta Launch Of zkEVM – What To Expect March 26, 2023
  • SushiSwap Faces A Double Whammy: SEC Subpoena & Market Cap Drop March 25, 2023
  • Binance Spot Trading Halts: Swift Response & Transparent Updates Eases Customer Concerns March 25, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.