Ripple Invests In Japanese MoneyTap Payment System

Ripple announced an investment in the MoneyTap payment system, which in 2018 year was launched by Ripple together with the Japanese financial conglomerate SBI Holdings.

The MoneyTap payment system was launched in 2018 year and allows you to send money to a phone number or from using QR codes. The RippleNet payment network was used to create the system.. MoneyTap is supported by many Japanese financial institutions, including Sumitomo SBI Net Bank, Daiwa Securities Group, Ashikaga Bank, Ogaki Kyoritsu Bank и Seven Bank.

“High fees for interbank transfers in Japan have not changed during 40 years old, and this is an international problem ", - note representatives of SBI.

MoneyTap offers much more favorable conditions for transfers, and thanks to the blockchain, money transfers are carried out almost instantly.

The volume of investments in the MoneyTap system has not yet been announced. However, Ripple's executives recently said
about possible transfer
Ripple headquarters to another country. And Japan was called
very likely choice. maybe, investment in MoneyTap was a preliminary step before the change of jurisdiction of Ripple.