📢 Ripple MoneyTap collaborates with six banks in Japan for XRP !!

Ripple's joint product MoneyTap with SBI has achieved unprecedented success in Japan, recording large-scale adoption by local banks.

A study confirmed that as many as 80% of the Japanese banking industry has partnered with Ripple.

In 2018, SBI Holdings announced the launch of the payment application MoneyTap based on Ripple's blockchain technology, enabling domestic bank customers to conduct instant transactions using QR codes, phone numbers, or bank accounts at any time.

Several banks, including Shinonome Shinkin Bank and Nagoya Bank, have partnered with SBI to offer international remittance services using MoneyTap.

SBI International Remittance: SBI's cumulative international remittances have significantly increased, reaching $13 billion this year.

Establishment of MoneyTap: Initially launched by SBI Ripple Asia, MoneyTap was registered as an independent entity in 2019, becoming a wholly-owned subsidiary of SBI Holdings. In 2021, Ripple acquired 33% of the shares of this subsidiary.

Regional Collaboration: MoneyTap has sought partnerships with six banks, representing different geographical areas, including urban and rural regions.

Ripple has established partnerships with up to 80% of enterprises in the Japanese banking industry.

The Japan Virtual and Crypto Assets Exchange Association (JVCEA) has also approved the listing of XRP on 31 regulated cryptocurrency exchanges.

This collaboration signifies Ripple's significant influence in the Japanese market and demonstrates the rapid adoption of cryptocurrencies and blockchain technology by major financial institutions.