Ripple Teamed Up With Seven More Japanese Banks With Its SBI Ripple Asia’s Money Tap Transfer Platform
We already know that Ripple and its XRP (XRP)-based systems are about to revolutionize the banking system. With xCurrent and xRapid, Ripple is promoting instant cross-border payments and, add to that, more secure transactions. Now, we’re pleased to announce that Ripple teamed up with seven more Japanese banks, via the SBI Ripple Asia’s money tap transfer platform.
As per a press release launched on June 26th, Ripple and XRP (XRP) teamed up with Chikubo, Ashiga, Towa, Shimane, Toho, and Fukushima Bank, among others. That would bring the XRP (XRP) to a whole new level of value against the USD.
Currently, the Ripple’s cryptocurrency, XRP (XRP), trades at $0.414, after the crypto market witnessed a considerable correction in the past day, as the leading cryptocurrency in the market, Bitcoin (BTC), dropped to $11,800, shedding about 1,30% in the last 24 hours. Ethereum (ETH) also plunged towards $306, shedding 0.10% in the past day, leaving XRP (XRP) on the third place in the market.
Seven More Japanese Banks Teamed Up With Ripple and XRP (XRP)
“SBI Group announces that SEVEN additional Japanese banks (20 in the aggregate as of today) have agreed to invest in Money Tap, Co. Ltd, a brand-new company operating a domestic settlement system for digital payments that Run on Ripple,” stated the XRP (XRP) Research Center on Twitter.
The new partnerships between these seven Japanese banks and Ripple and XRP (XRP) comes a few months after another 13 financial institutions from Japan teamed up with Ripple. The Ripple’s MoneyTap application is resilient on Ripple’s xCurrent, even though it is not using the XRP (XRP) cryptocurrency.
However, the XRP (XRP) remains the main engine of the Ripple solutions for immediate cross-border payments, besides xCurrent and others. At the time of this article, XRP (XRP) trades at $0.4144, and it is the third crypto by market cap, totaling $17,641,176,692, as it is beyond Ethereum (ETH) by about $15 million. So, the Ripple and XRP (XRP) adoption would only help the XRP rise to new levels.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.