Close Menu
  • Home
  • News
  • Bitcoin
  • Cardano
  • XRP
  • IOTA
  • All posts
What's Hot

VeChain (VET) Transitions from ‘Sleepy’ Status as Demand Loop and Real-World Applications Surge

Jun. 2, 2025

VeChain Introduces StarGate with $15 Million in VTHO Incentives—Optimize Your Rewards

May. 28, 2025

VeChain’s Pioneering Role in Real-World Blockchain: Insights from Sunny Lu

May. 28, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Digi Coin BlazeDigi Coin Blaze
Subscribe
  • Home
  • News
  • Bitcoin
  • Cardano
  • XRP
  • IOTA
  • All posts
Digi Coin BlazeDigi Coin Blaze
Home » Ripple News: MoneyTap Expands XRP Utilization in Japan via Collaborations with Six Regional Banks
XRP

Ripple News: MoneyTap Expands XRP Utilization in Japan via Collaborations with Six Regional Banks

By adminDec. 21, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ripple News: MoneyTap Expands XRP Utilization in Japan via Collaborations with Six Regional Banks
Ripple News: MoneyTap Expands XRP Utilization in Japan via Collaborations with Six Regional Banks
Share
Facebook Twitter LinkedIn Pinterest Email

In 2018, the Japanese financial services group SBI Holdings announced the launch of a payment application called MoneyTap on Ripple’s blockchain technology. MoneyTap was designed to allow domestic bank customers to make instant transactions using a QR code, phone number, or bank account. In 2020, CNF also reported SBI’s plan to use MoneyTap in Japanese ATMs.

At that time, Japan’s national payment clearing platform, Zengin, only allowed domestic money transfers between 8:30 AM and 3:30 PM. Six years after its launch, MoneyTap has become a highly effective payment platform with millions of users and a large number of transactions.

Renowned analyst WrathofKahneman noted that several banks, including Shinonome Shinkin Bank and Nagoya Bank, have partnered with SBI to use MoneyTap for international remittance services. SBI’s cumulative international remittances have significantly increased to $13 billion for the year.

In 2019, MoneyTap became a wholly-owned subsidiary of SBI Holdings after initially being launched by SBI Ripple Asia, a joint venture with Ripple. In 2021, Ripple acquired 33% of the subsidiary.

WrathofKahneman highlighted that over 200 Shinkin banks collaborating for international remittances are larger than US credit unions and play important roles in the Japanese banking industry. These banks have a diverse geographical reach.

MoneyTap has partnerships with several financial institutions in Japan, including Sumitomo SBI Net Bank, Daiwa Securities Group Headquarters, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Ashikaga Bank, Ogaki Kyoritsu Bank, and Seven Bank. Ripple has invested in MoneyTap and has formed partnerships with up to 80% of the Japanese banking industry, as confirmed by statistician Dr. Hossein Hassani and research experts Xu Huang and Emmanuel Silva.

The adoption of crypto and blockchain technology is also growing in major financial institutions outside Japan, with reports indicating that BNP Paribas, UBS, and HSBC are exploring and implementing blockchain solutions to improve operations.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dogecoin News: Nasdaq Supports 21Shares DOGE ETF Application While Bitwise Faces SEC Delay

Apr. 30, 2025

Three Prominent Cryptocurrencies to Monitor This Week for Significant Movements

Apr. 28, 2025

Dogecoin Leads as Meme Coins Surge—SHIB, PEPE, BONK Reach New Heights

Apr. 23, 2025
Leave A Reply Cancel Reply

Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss

VeChain (VET) Transitions from ‘Sleepy’ Status as Demand Loop and Real-World Applications Surge

News Jun. 2, 2025

VeChain (VET) is moving beyond its old image as a passive blockchain project.The network is gaining…

VeChain Introduces StarGate with $15 Million in VTHO Incentives—Optimize Your Rewards

May. 28, 2025

VeChain’s Pioneering Role in Real-World Blockchain: Insights from Sunny Lu

May. 28, 2025

IOTA Launches Korean Community Campaign Offering Substantial 320,000 MIOTA Rewards

May. 19, 2025
About Us
About Us

Digi Coin Blaze is your go-to platform for exploring the latest cryptocurrency news, in-depth analysis, and market trends. We are committed to providing comprehensive digital currency information to help you seize investment opportunities.

Featured Articles

VeChain (VET) Transitions from ‘Sleepy’ Status as Demand Loop and Real-World Applications Surge

Jun. 2, 2025

VeChain Introduces StarGate with $15 Million in VTHO Incentives—Optimize Your Rewards

May. 28, 2025

VeChain’s Pioneering Role in Real-World Blockchain: Insights from Sunny Lu

May. 28, 2025
Most Popular
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • News
    • Bitcoin
    • Cardano
    • XRP
    • IOTA
    • All posts
    © 2025 Digi Coin Blaze All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.