XRP Payments Are Coming To Stores Via Banking Giant SBI
Ripple and XRP are still in the spotlight with even more achievements being marked.
Ripple’s products are seeing more adoption, and XRP is also boosted, especially by Wietse Wind and XRPL Labs.
SBI is working to integrate XRP with MoneyTap
SBI is reportedly working hard to create in-store XRP payments.
It has just been reported that the company is working on integrating XRP with its Ripple-powered remittance app called MoneyTap.
The app will be using QR codes in order to give people a seamless, instant way to pay for products and services with XRP.
SBI said that it would be testing the app at a Tokyo restaurant before launching the service for retail customers by the end of the year.
The app is fully licensed by Japanese regulators and it makes use of Ripple’s xCurrent in order to power instant remittances between 13 regional banks, as reported by the Daily Hodl.
SBI is working to roll out MoneyTap to a banking consortium that is led by SBI Ripple Asia that’s comprised of 61 banks covering more than 80% of all banking assets in Japan.
Bringing more institutional investors in the crypto space
SBI Holdings built the very first bank-owned crypto exchange VCTRADE, and it revealed that they would work hard to bring more institutional investors to the crypto space.
This will obviously mean a step further towards the mass adoption of crypto.
“SBIVC currently offers services only for retail customers. After AML/CFT and custody solutions that we are planning to implement are finalized, we would like to move forward and start providing services to institutional investors.”
More services for institutional investors would be able to unleash FOMO, and if more investments from the big players will enter the crypto game, this will take the crypto space closer to mass adoption which is the primary goal.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.