Announcement of smartphone money transfer application "Money Tap" using ripple.
"Money Tap" is an inter-personal remittance application that connects to the financial infrastructure utilizing Ripple's block chain related technology. With participating banks, remittance can be made at low cost 24 hours a day, 365 days using telephone numbers and QR codes.
Specifically, it connects to the next generation financial platform "RC Cloud 2.0" which implements ripple's latest solution "xCurrent" on the cloud. SBI Holdings and its subsidiary SBI Ripple Asia serve as secretariat, and the "domestic and foreign exchange centralization consortium" to which 61 Japanese banks are affiliated is established as the foundation.
At the time of public release, three lines of Shumishin SBI Net Bank, Suruga Bank, Resona Bank correspond. Corresponding banks are scheduled to be expanded sequentially, centering on consortium participating banks. The Bank of Tokyo-Mitsubishi UFJ, Seven Bank, Mizuho Financial Group, etc. are also participating in the consortium.
At the moment, although we focus on inter-individual remittance, we will add foreign exchange function in the future. In addition, we are aiming to provide B2B and P2B corporate solutions such as "pay for part-time jobs".