bitcoin and litecoin 1xbet
Blockchain

Japan: Resona Bank Ends Partnership With Ripple-Based Payment App MoneyTap

Major Japanese bank Resona will withdraw from Ripple-powered blockchain payment project MoneyTap on May 13, the bank announced on April 11.

A subsidiary of Resona Group, the fifth largest banking group in Japan as of 2012, Resona Bank joined the project in October 2018, along with SBI Sumishin Net Bank and Suruga Bank.

Launched on Oct. 3, MoneyTap payment service uses Ripple’s blockchain solution xCurrent, which claims to offer instant domestic bank-to-bank transfers. The project was co-developed by Japanese financial services giant SBI Holdings and blockchain firm Ripple, the firm behind XRP, the third top cryptocurrency by market cap.

In the recent announcement, Resona claimed that the bank will cancel its cooperation with MoneyTap, noting that the cooperation started on October 4. The bank did not provide any specific details to explain its decision to withdraw from the partnership, only adding that it will continue to improve its services for clients.

Recently, MoneyTap received an undisclosed investment from 13 Japanese banks and financial institutions including Kiraboshi Bank, Shinsei Bank and Hokuriku Bank.

Prior to MoneyTap’s official launch in October, SBI Holdings received a license from Japanese regulators to handle electronic payments as an Electronic Settlement Agency Service Provider.

Earlier today, David Solomon, CEO of major global investment bank Goldman Sachs, declared that the bank has never had any plans to launch a crypto trading desk, denying previous reports.

Let’s block ads! (Why?)

Choose Which Assets to Trade
Deposit
Receive

Bitcoin Market Price Chart in RealTime

Source: Cointelegraph News

loading...


Get News Update Daily - It is Your Right


Most Trending News On Sleekarena

#BBNaija 2019: Tacha Has Body Odour – Kim Oprah Reveals

Horror! Student Lies In Front Of Moving Train, Gets Crushed In Front Of His Classmates

Photos: Wanted Nigerian fraudster arrested in Thailand as he arrives Immigration office to extend his visa

Agriculture: Ex-NYCN boss Shendam donates 700 plots of land to Cross River

Nigerians Shade Davido As Beyonce Features Wizkid, Burna Boy, Yemi Alade, Others In New Album

loading...
Buy or Sell Bitcoin and Litecoin
To Top