SBI Holdings Set To Spread MoneyTap to Over 200 Financial Institutions with Ripple

Blockchain study 30 percent Finance leader commit resources

SBI Holdings recently disclosed the information of a new firm called MoneyTap. The new firm focuses on cashless settlements for small and medium transfers. SBI Holding is one of the biggest partners of Ripple Inc. The firm works closely with Ripple Inc. – an international payments-oriented project. Ripple has some products it uses for cross-border payments. Some of its products include xCurrent, xRapid, xVia, and RippleNet.

The cross-border payment-focused firm has been making waves in the crypto. It has secured a lot of strategic partnerships over the past years. The native digital currency of Ripple is XRP (XRP). The firm uses XRP in some of its products such as xRapid. However, Ripple claims that XRP (XRP) and the firm are independent of each other. XRP price prediction 2019 has been the major focal point of most digital asset investors. They want to know if XRP will recover this year. However, many experts believe that the partnerships of Ripple and the effort of the team would help increase XRP price in 2019.

What MoneyTap Has to Offer

The notice SBI Holdings published contains the purpose and aim of the firm. A snippet of the notice reads:

“MoneyTap is a real-time, comfortable, and safe application that lets users send money to each other directly. Users can also deposit fund directly from a bank to a bank account all day, every day in the year. Furthermore, we have a remittance function that utilizes a QR code or mobile phone number to specify the destination of the remittance. We are also combining this with biometric authentication like fingerprints, additional security, and fascinating user experience.”

The notice also pointed out that SBI Holding and Ripple have a very strong relationship. The relationship between Ripple and SBI Holdings started long ago. They have been working together for quite some time, and they plan to tighten the partnership with more dealings.

MoneyTap Aims to Promote the Introduction of New Technologies

MoneyTap also aims to enhance innovation by promoting the introduction of new technologies further. The firm will achieve this with the cooperation of Ripple Inc. in the U.S. The president and Representative Director of SBI Holdings – Yoshitaka Kitao – strongly believes in the technology of Ripple. He is bullish on the products of Ripple. Previously, he said that he expects banks in Japan to use Ripple by 2025. In a recent interview, Kitao talked about the benefits of working with the technology of Ripple.

Kitao said: “MoneyTap is an open settlement network that utilizes the xCurrent distributed ledger technology of Ripple. As such, high transactions costs and maintenance fees are not necessary. We are thinking of implementing a foreign exchange remittance function that uses XRP (XRP) on the MoneyTap.”

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.321564
2.62%

Ripple has been penetrating the banking industry with its products. The firm has been making some strategic moves. Apart from being applauded by SBI Holdings, GMO – Japanese internet giant – just released a bullish report about XRP. The internet giant just published results of a survey that shows that almost 50% of Japanese digital asset investors believe that XRP is the most likely to surge this year. This has also given rise to several XRP price predictions 2019. The digital currency has a very strong community, and they all believe that the digital currency would amount to something great this year.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.