Topic: Second largest bank in Japan is investing in Ripple’s MoneyTap (Read 119 times)

One of the things I like about XRP is the way the team secures partnership, integrating payment systems etc. I believe if not the fact of which it is a centralized coin it will be on the lips of all and sundry, but even at that it is still waxing strong against all odds. This is just a clear picture of a team working underground to ensure they remain the best at what they do and seriously I have to commend them; if only most altcoins can be as xrp or their team being serious with development this space would be a better one.

The price of Ripple may be opaque to the level of partnerships and deals they have been into for years now, but I feel they shouldn't be worried about that, if Ripple can continue to build their network, not so much focusing on the price of their coin, they could attain fair stability and sustainable growth, not an erratic one.

Ripple isn't a "pretender" altcoin, and i support majority of their decisions, mostly based on partnerships with big businesses and non cryptocurrency organizations, if more altcoins will focus on sustainable growth and not only their price, then they wouldn't be ephemeral altcoins.

For years, I am seeing lots of partnership made with ripple but unfortunately it is trading 400% down from where it was trading by this time last year. Not sure where they are missing out. Ripple is a corporate coin which means it is just another paypal kind of centralized thing but trying to become famous among crypto people. We need to be more careful against it always because it may get collapsed at any time.

Japan is the first crypto friendly country and making partnership with its second largest banking giant will definitely may impact on the values of XRP in coming days. Let me watching its markets for a while to observe how this kind of frequent news are influencing it.

I can't wait how much price that will be reach by centralized coin.

For the utilization, I think ripple is deserve to be use especially for sending money because it has a low fee and fast transaction, but other than that I still doubt.

It looks good to see that but it seems like this company has already started to abandon the ripple coin holders.
From what i can see if the foundation focussing to the big partnership and they have started to sell their tech for those companies but the problem is ripple is not yet complete all of its responsibility to the ripple coin user.
I believe if this company will be associated with all of the banks in the future.

It's a success for the Ripple project, although we haven't felt it with the price now, but eventually in the long run we will see the effect of this success.
As for now, we haven't seen its effect on the price of XRP yet but as the market moves more bullish, this will show some result soon.

Glad to read more good news about crypto in this little bullish market, this is gonna be a good start for this year I guess.

There is no doubt that XRP is a potential coin,
The movement of XRP on exchange market are slow only because of their huge supply.

There public ledger ensures the customer security and transparency. They have caught the attention of everyone in the banking sector by giving low transaction fees,
fast transaction time, peer to peer connection without having any central failure. You may know Ripple is the 3rd most popular and used Cryptocurrency in the world.
There are about hundreds of reputed banks like American Express, Bank of America, JP Morgan, Standard Chartered and so on are associated with Ripple.
The good think is if XRP are able to add more banks continuously then I believe the future of this coin is bright.

The one-handed arguments of banks now in the cryptocurrency market are that Ripple is also in this market. That's why all banks are willing to cooperate with Ripple. But what is overlooked is that the upcoming evolution started with Bitcoin, not Ripple!

In other words, it is very normal for banks to undertake initiatives, after which market movements will decide.

- Sumitomo Mitsui Banking Corporation, the second largest Japanese bank, has partnered with SBI Holdings to build a blockchain-based banking platform.
- SMBC is investing in Ripple’s MoneyTap app, which allows users to send money using a telephone number or QR code.
- However, SMBC is just one of hundreds of banks using Ripple’s products.

The second largest bank in Japan, Sumitomo Mitsui Banking Corporation (SMBC), recently partnered with SBI Holdings to build a blockchain-based financial services platform. SMBC is planning to put funds into companies involved with the Japanese financial conglomerate, as a way to expand the use of blockchain technology in finance and remittance. Ripple is part of that plan. So, the second largest bank in Japan is investing in Ripple’s MoneyTap - what does that mean for the company?

What is Ripple?
According to eToro, “Simply put, Ripple is the company behind XRP. RippleNet and the XRP Ledger were created by RippleLabs, which uses open-source technology to beat Bitcoin in speed, and banks and other financial institutions in fees. Having launched in 2012, Ripple soon exploded onto the crypto scene.”

https://www.youtube.com/watch?v=epvQvY9IdHE&t=10s

The low-down
As part of the plan, SMBC has decided to invest in the blockchain-powered payment app MoneyTap, which is owned and developed by Ripple and SBI Holdings. This move comes after Fukushima Bank, and a number of other financial institutes, decided to integrate the app.

MoneyTap enables its users to send money using a telephone number or QR code - however, no XRP is involved in the process. While it’s part of the Ripple company, it’s not technically involved with the cryptoasset.

SMBC is not the first
SMBC is far from the first bank to invest in Ripple’s products. In fact, when we look at the xrparcade.com website, we can see that more than a third of the world’s largest banks are using Ripple. They may be piloting it, but many are already using it in business operations. This means that Ripple’s products are being used in more than 250 banks, in over 50 countries.

Mitsubishi UFJ Financial Group, the fifth largest bank worldwide, is collaborating with Ripple to provide cross-border money transfer services based on the payment corridor from Brazil to Japan.

https://www.youtube.com/watch?v=Ket7OgJXrZY&t=7s

This table, from crypto-news-flash, shows the top 10 banks using Ripple’s products:



While it’s big news that the second largest bank in Japan is investing in Ripple’s MoneyTap, they’re really only following in the footsteps of hundreds of other banks already using Ripple’s products. Now’s definitely the right time to get in on XRP - head to eToro to start trading today.
https://twitter.com/Ripple/status/1221877944148267010?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Ripple is on the up
With the second largest bank in Japan investing in Ripple’s MoneyTap, and hundreds of other banks already using or piloting Ripple’s products, it’s no secret that RIpple is on the up. In fact, as the cryptocurrency with the third largest market cap, it’s likely that we’ll see even bigger movements from them soon. Ripple is rising, and 2020 is set to be one hell of a year for the company, and XRP.

https://coins.newbium.com/post/29805-second-largest-bank-in-japan-is-investing-in-rippl