Money Tap, a Japanese fund transfer platform that seeks to connect several banks with Ripple's solutions, has officially launched their website. Although the information remains hidden, such developments should be a source of excitement for the Ripple and XRP community, eager to see more and more financial institutions using their blockchain and all their products on offer. Ripple the company, the publishers of the RTXP network on which three of their products work is specifically designed for financial institutions and their goal is to bring efficiency and speed to a 40-year otherwise late fund-transfer system . The money transfer app, available in iOS and Android, will be the first of its kind to be used by several banks and will probably open its doors at the end of this year.
60 banks to join the global network
The platform is openly supporting Ripple and XRP and plans to change the way in which remittance and payment are traditionally made in Japan. By connecting more than 60 national banks using the Ripple network and possibly incorporating XRP into the process, over 80% of all banks in Japan will use the RTXP protocol for their day-to-day operations, a business that has been praised from the director of Joint Venture Partnership to Ripple, Emi Yoshikawa. SBI is in the forefront promoting Ripple technologies throughout South Asia and already has a partnership with Thailand's SIAM bank that allows Thais in the diaspora to easily send money via RTXP at any time of the day.
Increase the adoption of undulations
As expected this is a step in the right direction arriving at the time when the Ripple and R3 consortium decided to resolve their differences from the court after deferring the agreement of 2016 XRP purchase. It also coincides with the news that the RBC bank, a member of the Royal Bank of Canada has recognized the cost and efficiency benefits of financial institutions that adopt the healthy solution of Ripple, which uses XRP in their operations.