On October 3, it became known that Ripple, together with SBI Holdings, a large Japanese group of financial companies, launched MoneyTap, a consumer-oriented service.
MoneyTap uses Ripple xCurrent to provide real-time domestic interbank transfers. Account holders of three Japanese banks (SBI Sumishin Net Bank, Suruga Bank and Resona Bank) can now send funds using a mobile application.
After registration, users will need a phone number or a QR code for making transactions in Japanese yen or foreign currency without commission. The payment system is protected by a biometric authentication system using fingerprint scanning.
Recall that recently Ripple announced the launch of the xRapid platform, designed to accelerate cross-border payments.