xCurrent-Powered MoneyTap Brings In New Banks To Crypto

xCurrent-Powered MoneyTap Brings In New Banks To Crypto

The financial services firm based in Tokyo, SBI Holdings has announced that it had on-boarded seven new banks as MoneyTap’s equity holders. This news comes just after Ripple announced its $50 million investment in MoneyGram and after news surfaced on the financial business considering Ripple’s investment with the agenda being “promotion of initiatives related to international remittances.”

MoneyTap is an payment application powered through xCurrent and set up in order to make faster and transactions a lot smoother. The app allows users to make nearly instant money transfers at any time of day and also allows them to make transactions to bank accounts, phone numbers of QR codes linked to their accounts. Banks that are currently compatible with MoneyTap are Suminobu SBI Net Bank and Suruga Bank.

The new banks that have joined the investment list are Ashiga Bank, Shimane Bank and Chibuko Bank, Fukushima Bank, Towa Bank and another unknown bank. With these new banks getting onboard, the overall number of banks that have invested in MoneyTap is now 20.

It has been a few months now since SBI Holdings announced the investment of the other 13 banks. The banks that had invested in MoneyTap earlier this year were as follows:

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

Translated from Japanese, the blog post says:

“Going forward, in addition to participating in the domestic and foreign exchange consolidation consortium (* 2), other financial institutions will participate in management as shareholders, and cooperate with a wide range of financial institutions to provide financial services with high customer benefit and cash.”

Price

In terms of price, things haven’t gone all that well for the crypto market over the past 24 hours. The leading cryptocurrency has sunk back into the $11,800 mark with Ripple’s XRP token priced at $0.41 following a 2.82 percent loss in value over the past day.

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