Today SBI Ripple Asia, the joint venture between Japanese group SBI (60%) and Ripple (40%), launched their
Money Tap app in the IOS and Google Play app stores. The application is for both cross-border payments and domestic Japanese payments. Last week they received a
licence for electronic payments. More than sixty banks are part of the consortium.
In Japan, bank transfers are only possible during limited hours. Hence the application enables 24/7 banking.
The banks that are live are Shumishin SBI Net Bank, Suruga Bank, and Resona Bank. For now, there are no fees from the first banks, but each bank is free to set their own fees.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
Image Copyright: SBI Ripple Asia
