Ripple’s partner and investor, SBI Holdings, announced plans to integrate Ripple’s payment settlement procedures into ATMs in Japan.
The news was revealed in SBI’s latest financial report, which announced a plan to integrate MoneyTap, Ripple’s payment settlement platform, with the ATMs operated by several banks across Japan.
Will the disclosed its intention / rejected the proposals / the virtuous circle of market data / a way to pivot out / a lloyd’s-backed cold storage insurance product season that will inflate the Market Capitalization arrive?
The integration is intended to make it easier for consumers to access funds at ATMs, regardless of their bank affiliation.
SBI will integrate Ripple technology into Japanese ATMs
SBI says the integration of MoneyTap will also allow banks to reduce ATM operating costs, saying that
„Currently, each bank has an ATM with its own banking application, but with a common web application, the same ATM can be used as its own jointly operated multi-bank ATM.
MoneyTap was launched in October 2019 on iOS and Android, facilitating instant money transfers via a QR code or phone number.
In September 2019, SBI CEO and Ripple board member Yoshitaka Kitao stated that the company planned to use XRP for remittances in the future.
Ripple appears to be developing a working capital loan product based on blockchain
Sygnum Bank adds support for XRP
In other news related to the adoption of Ripple, Sygnum, the self-described digital asset bank, has launched support for XRP’s trading, custody and credit services.
Sygnum co-founder Mathias Imbach said he was impressed by Ripple’s global traction, noting that more than 300 financial institutions have joined the RippleNet payment network.
Ripple’s XRP implements the ability to remove a wallet
„The company’s XRP-based solutions address weaknesses in the rapidly growing $700 billion global remittance market,“ added Imbach.
Although Ripple has gained market share in payments, XRP has been ranked among the lowest performing crypto assets so far this year in the top ten by market capitalization.