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SBI Ripple Asia, the Asian branch of the California-based and New York regulated firm Ripple Labs, announced the creation of a Japanese consortium of banks in a new network that will use Ripple’s technology for payments and settlement. The consortium will initially be composed of fifteen major, regional and internet-based banks in Japan and aims that the new payments platform will enable round-the-clock settlement at a significant cost reduction to its members and their consumers.
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