SBI Major Push for XRP Mass Adoption With 61 Major Banks & Free XRP

November 2, 2019 boss

In a new investor report from SBI Holdings, the group intends to expand usage and push for mass adoption with new platforms and giveaways.

SBI Ripple Asia, a joint venture with Ripple and a consortium of 61 Asian Banks says it will use up to 50% of RippleNet once it gets going.

Considering RippleNet has been breaking daily transaction records, mainly from MoneyGram’s Mexican corridor, you can see why this will be huge.

In the report, which contains SBI’s performance and strategy, the group says it is going to be making use of XRP for remittance between Japan and South-East Asia, pointing that SBI Remit, a subsidiary of the SBI Holdings will increasingly make use of Ripple’s On-Demand Liquidity service

News Logical

Cleverly, SBI is actively promoting the use of XRP by giving it away to customers who are new to ODL, giving 30 XRP away free to 30,000 app users.

In another amazing giveaway, SBI VC Trade gifts 1000 Yen in XRP to SBI NEO Mobile Securities customers who sign up new accounts.

SBI also announced an expansion of its mobile money transfer app which uses Ripple tech to allow p2p money transfers, wage payments and more.

Other functions on the MoneyTap app allow payments to be made to mobile numbers or QR codes and twenty-four-seven real-time remittances.

Money Tap was established to quickly build a money transfer application for smartphones using Distributed Ledger Technology (DLT), Money Tap business, and next-generation financial infrastructure using DLT. Also, in providing services, financial institutions support the introduction of this service by handling Money Tap in the API connection support service

MoneyTap

MoneyTap boasts investment from over thirty major Japanese banks, its investors have high hopes that the mass adoption will generate huge profits.

Although its shareholders are banks there are only four banks participating with the app but as the site says this list will grow as adoption increases.

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