SBI Ripple Asia Receives Licence for Inter-Bank Blockchain Payments

[kreslik.news]

SBI Ripple Asia, the Tokyo-based joint enterprise of SBI Holdings and Ripple, has registered as a substitute agent for electronic settlement with the Ministry of Finance bureau in the region of Kantou.

This is the first step in the process of legally implementing the blockchain-based ‘MoneyTap’ service in Japan.

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Inter-bank payment system

MoneyTap is an inter-bank payment system which will operate 24 hours a day, an improvement on the current system which only works between 0830 and 1500 on weekdays.

A banking reform law passed on the 1st of June 2018 made it necessary to register with ... (read more)