Ripple-based MoneyTap receives investments from Japan’s second largest bank. This Ripple technology application is becoming increasingly popular. The project is successful and actively developing. It is worth noting that Ripple’s ideas are often integrated into various systems, yielding pretty good results. The MoneyTap application is a clear example. Now another Japanese bank, namely Sumitomo Mitsui Banking Corporation (SMBC), is investing in MoneyTap based on Ripple.
Ripple-based MoneyTap receives investment from Japan’s second largest bank: Details
Ripple-based MoneyTap receives investments from Japan’s second largest bank Sumitomo Mitsui Banking Corporation (SMBC), according to Nikkei. Sumitomo Mitsui Banking Corporation (SMBC) has partnered with SBI Holdings to create a blockchain-based financial services platform. Obviously, in connection with this, there was an investment in MoneyTap based on Ripple.
Sumitomo Mitsui Banking Corporation plans to invest in Japanese financial conglomerate companies to expand the use of DLT technology in trade finance and money transfers of individual banks. As part of the merger, a major Japanese bank decided to invest in a payment application with the MoneyTap blockchain, which was developed by Ripple and SBI Holdings.
This happened after Fukushima Bank and many other regional banking institutions decided to integrate MoneyTap based on Ripple. Ripple-based MoneyTap allows its users to send money using phone numbers or QR codes. In addition to MoneyTap, SMBC will also invest in the Rord Corda platform in Japan. It is expected that this will greatly enhance the adoption of Corda in one of the largest cryptocenters.
Thus, the blockchain in Japan is actively gaining momentum. This is also important for Ripple, which here collaborates not only with SBI Holdings. Previously, there was also information about the high popularity in Japan of the Ripple XRP. This shows the possibility of further promotion of Ripple in the world. There was also information that Ripple SBI Asia is investing in Currencycloud, ODL technology is gaining momentum in Australia, and Wits Wind has determined consumer attitudes toward Xumm Pro through a social media survey.