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Yahoo Japan Merger with Line Could Give MoneyTap a Huge Advantage

Jamie West by Jamie West
November 20, 2019
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The reported merging of Yahoo Japan with Line will be a coup for the SoftBank Group and give Ripple-powered MoneyTap a huge advantage.

Yahoo Japan confirmed that they’re negotiating with Line regarding a possible merger. The news was also acknowledged by SoftBank, which holds a 50% stake on the internet giant. However, Japan’s largest messaging company says that the deal is still being discussed.

SoftBank already has a stake in Line, as it acquired the majority of shares in the messaging company’s mobile unit back in 2018. However, Line continues to struggle with getting its momentum back. The company has reported operating losses for three consecutive quarters now.

News about the proposed merger has helped push Line and Yahoo Japan shares up. Yahoo Japan, which changed its name to Z Holdings last month, currently has a stock market value of around $17 billion. Shares rose by 16% when news of the partnership hit.

Meanwhile, there was a deluge of buy orders for Line shares, but they remained untraded. The company’s stocks have been valued at $10 billion.

Insiders have hinted that a deal could be finalized by the end of the month. If the $27 billion merger does push through, Japan will witness a 50/50 venture between SoftBank and Line’s parent’s company Naver. The partnership would have control of Z Holdings and Yahoo and Line in turn.

The country’s internet will also be technically controlled by one entity. It will even bring together the operators of two of Japan’s largest QR code payment apps. The deal also places Ripple at a very strategic spot that allows it to benefit from all the acquisitions and mergers.

According to the XRP Research Center’s latest tweet, Line joining and falling under the umbrella of SoftBank would also give its Ripple-backed MoneyTap the perfect opening to gain from PayPay’s integration. The research company monitors Ripple technology as it advances and provides users with updates.

Yahoo Japan Merger with Line Could Give MoneyTap a Huge Advantage ORIG

The anticipated merger couldn’t come at a more appropriate time as far as MoneyTap and Ripple is concerned. Japan has been belatedly but steadily moving towards cashless payments.

The PayPay app recently reached 9 million users, thanks to Softbank’s relentless marketing campaign. Meanwhile, Line Pay has access to Line messaging’s more than 82 million Japanese users. Finance company SBI Holdings, which collaborated with Ripple to develop MoneyTap, has closed a deal with PayPay just last month.

A Line – Yahoo Japan partnership could mean that two main QR-code payment applications in the country will be utilizing Ripple technology.

MoneyTap depends on the Ripple blockchain system to manage bank-to-bank transfers. The app is steadily gaining popularity despite being shut out by Japan’s fifth largest bank Resona. Fortunately, four additional regional banks have begun using MoneyTap in September.

SBI Holdings has also teamed up with Fukushima Bank. The monetary institution has been struggling financially recently and wants to integrate MoneyTap into its system in a bid to become more profitable.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: Line corporationSoftBank newsSoftBank stockYahoo Japan corporationYahoo Japan news
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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