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13 New Banks Invest in SBI’s MoneyTap

ABout a year ago, we got news that a Ripple powered mobile app was going to provide on-demand domestic payments in Japan.  The Japanese banking consortium was going to release a groundbreaking smartphone application called MoneyTap which would be powered by Ripple’s blockchain technology.    The Japan bank consortium, which is lead by SBI Ripple Asia is comprised of 61 banks which covered more than 80% of all banking assets in Japan.  MoneyTap would provide on-demand payments to the vast majority of Japan through this banking consortium.

Early this morning we get news from CoinPost Japan, that 13 new banks are going to join the consortium.

The 13 companies that invested are as follows.

  • Atago Bank
  • Kiraboshi Bank
  • Keiyo Bank
  • San-in Joint Bank
  • Shiga Bank
  • Shimizu Bank
  • Shinsei Bank
  • Suminobu SBI Net Bank
  • Suruga Bank
  • Seven Bank
  • Hiroshima Bank
  • Fukui Bank
  • Hokuriku Bank

The one particular bank that should stand out in this group is “Seven Bank”. The reason Seven Bank should stand out to everyone is that Seven Bank is the largest convenience store ATM business. On March 28th, Seven Bank announced that the number of ATMs installed has exceeded 25,000.  According to data released by Seven Eleven, the largest convenience store in Japan, the number of stores as of 2017 is over 20,000 and sales are over 4.7 trillion yen.

Here comes the exciting part!

Just last month, February 1st to be exact, we covered a story of SBI and how Money Tap would utilize XRP – Article below

SBI Does It Again! Money Tap Will Utilize XRP – CONFIRMED

Yoshitaka Kitao is not messing around.  He is all in on XRP and his network keeps on growing.  SBI Ripple Asia already covered 80% of Japan and now 13 new banks are added.  Can you say Japan will Run on Ripple?


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