Recently, Takashi Okita – the CEO of SBI Ripple Asia – announced the completion of the site for a new international payment application. The CEO made this announcement in a tweet on Twitter.
MoneyTap – a ripple-based payment app
MoneyTap is the name of the new cross-border app created by the company. The MoneyTap website has been completed, but by visiting it, visitors are greeted with a "coming soon" sign saying that the application will be launched in the fall of 2018. The information on the site also indicates that the 39; application will support both iOS and Android.
XRP (XRP) Price today – XRP / USD
MoneyTap will go live for the first time in Japan
A couple of months ago, the company announced that the application would go into directed in Japan and was being tested by three members of the SBI lead consortium. According to the announcement, the three banks to test the application when it will go live are SBI Net Sumishin Bank, Resona Bank and Suruga Bank. Then it will follow the example of the remaining consortium of the remaining consortium
. The consortium of Japanese banks, head of SBI Ripple Asia, includes sixty-one banks that control over 80% of all banking activities in the country. Through this consortium, MoneyTap would be able to provide on-demand payments to the overwhelming majority of Japan.
Will MoneyTap use XRP (XRP)?
This is the big question in the mind of XRP (XRP) enthusiastic HODLers and Ripple. Everyone wondered if the new SBI Ripple Asia application would use XRP (XRP) in the backend registry. If previous Ripple applications are to be used as a case study, xCurrent is the most likely Ripple solution for the application.
The MoneyTap mobile app will be available by the end of the year in Japan and will revolutionize the remittance industry once again. If the mobile app uses XRP, it will further increase exposure and adoption of the currency, so it will increase its value over time.