SBI Holdings is a well-known supporter of Ripple and they have recently announced a new app called MoneyTap that has a main focus on cashless payments for small transfers.
Today, it has been revealed that around thirteen banks will work with MoneyTap which will bring in even more banks into the Ripple ecosystem. In fact, maybe the CEO of SBI, Yoshitaka Kitao’s vision of having banks use XRP by 2025 is right on track, but only time will tell.
The thirteen banks in question are as follows:
- San-in Joint
- Suminobu SBI Net
The app's purpose was made known earlier last week when the firm announced:
“‘Money Tap’ is a safe, real-time and comfortable app that allows users to transfer money between individuals directly and can deposit money directly from a bank to a bank account 24 hours a day, 365 days a year. In addition to the bank account number, we also have a remittance function that uses a mobile phone number or QR code (* 2, 3) to specify the remittance destination, and by combining this with biometric authentication such as fingerprints, the user experience (UX ) and security.”
Of particular note is the inclusion of Seven Bank, which is owned by Seven & i Holdings (big distribution firm based in Japan). Seven Bank is the country’s largest convenience tore ATM provider and has more than 25,000 ATMs already in operation. It also has ATMs in the United States and Indonesia.
SBI and its CEO are very bullish on the use of Ripple’s XRP token in the nation. SBI has made numerous investments in the space including a $15 million Swiss crypto card maker Tangem.
If the interest that big institutional players have on Ripple’s XRP keeps up, then maybe Ripple and their token will indeed be the best performing token of this year as some surveys have suggested.
According to a survey conducted by Japan’s GMO Internet Group, the results of a survey showed that more than half of the respondents (11,000) believes that Ripple will rise the most in price throughout 2019.