Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Online Payments

Ripple teams up with Japanese banks to develop blockchain payment app

Thursday 8 March 2018 | 12:45 PM CET

Ripple has partnered with a consortium of 61 Japanese banks to develop a blockchain-powered payment app that settles transactions instantly.

The app, "Money Tap," will first go live in the fall of 2018 and will be available with three banks included in the consortium — SBI Net Sumishin Bank, Suruga Bank and Resona Bank — before being rolled out to the rest of the consortium.

The app is aimed to make it easier for banks to settle domestic payments in Japan. Consumers will only be required a bank account, a phone number or a QR barcode to use the app.

The banking consortium is led by SBI Ripple Asia, a joint venture between Ripple and SBI Net Sumishin Bank's parent company SBI Group.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement