Blockchain company Ripple, in collaboration with Japan Bank Consortium, unveiled MoneyTap, mobile app that allows customers to make domestic payments on-demand

Briefing

March 19, 2018

Briefing	On-Demand Payment System – Blockchain company Ripple partnered with Japan Bank Consortium to develop MoneyTap, mobile app that uses blockchain technology to enable 24/7, on-demand processing of payment transactions Customer Requirements – Requires bank account, phone number or QR code from consortium members’ customers to use mobile app Japan Bank Consortium – Composed of 61 banks that manages more than 80% of all banking assets in Japan, led by SBI Ripple Asia Commercial Availability – Will launch initially in fall 2018 to customers of SBI Net Suminshin Bank, Suruga Bank, and Resona Bank, followed by staggered rollout to other bank consortium members
Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Market Disruption	New Payment Technologies
Sector	Cross-sector, Financial Services
Organization	Ripple
Source	"Ripple powered mobile app to provide on-demand domestic payments in Japan," Ripple, https://ripple.com/; "Ripple rolls out payment app to 61 Japanese banks," Pymnts, https://www.pymnts.com/; Browne, R., "Ripple develops blockchain-powered payment app with 61 banks to speed up transactions in Japan", CNBC, http://www.cnbc.com/; AcceleratingBiz analysis
Original Publication Date	March 6, 2018

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