Japan – Since 2016, Japan’s SBI Holdings has established a close partnership with Ripple. The two companies founded a joint venture called SBI Ripple Asia. According to the latest news, Ripple will start investing in SBI’s MoneyTap. This platform uses Ripple’s latest blockchain technology that process cross-border payments cost-effectively and quickly.
According to the executives, this investment aims to drive better adaptation and development. By using MoneyTap, consumers can process and confirm money transfers almost in real-time through a QR code. Although this system has been active since 2018, it continues to attract more investors.
Through this latest Ripple investment, MoneyTap can further strengthen its partnership with Ripple and develop better and unique functions to improve the corporate payment function and small-amount collection service. Since MoneyTap aims to deliver an overseas remittance service, Ripple can help this platform make new improvements.
The MoneyTap application aims to convince people to take advantage of new technologies and use them for their businesses. By forming an ecosystem with reliable financial institutions, MoneyTap aims to deliver a customer experience that promotes peace of mind, affordable rate, and convenience. Thanks to MoneyTap’s superior architecture, many customers in Japan can enjoy a faster and cheaper money transfer experience.
Ripple’s investment in MoneyTap is great news since it sees it as an opportunity to reach more “unbanked” people who are not familiar with the convenient way of moving money in different borders. Like other blockchain networks, Ripple promotes money remittances that do not depend on one central authority to secure and manage their transaction database.
By adopting MoneyTap, more people can save on high interbank fees very usual in Japan. This application creates a more budget-friendly ecosystem that can help the public, especially those who need money during an emergency. With MoneyTap, users can secure their funds for day-to-day needs. It guarantees quick access to money within 24 hours.
This application has gained thousands of customers quickly since it features instant approval and transfer in minutes. According to some critics, MoneyTap has one of the fastest app-based approval processes in the industry. In a few taps, you can immediately transfer as low as ₹ 3,000 to your registered bank account.
Faster and trusted transfers are only the beginning of what MoneyTap can offer the market. With the latest Ripple investment, the application will surely grow and revolutionize the way transfers happen across Japan.