- Ripple announced its plan to move to Japan.
- The announcement came from SBI Holdings Yoshitaka Kitao, at their financial results briefing that took place yesterday.
- MoneyTap, the company’s app, is what inspired the transition as the company plan along with 38 Japanse banks to invest in it.
Ripple has decided to move to Japan
Ripple announced its plan to move to Japan. The announcement came from SBI Holdings Yoshitaka Kitao, at their financial results briefing that took place yesterday.
MoneyTap, the company’s app, alongside 38 investing Japanese banks, inspired this transition. Some of the banks which have shown an interest in MoneyTap include the Shimane Bank, Shimizu Bank, and Shinsei Bank. Ripple is currently discussing the MoneyTap app with three other banks. The app will carry on the peer to peer legacy and allow anyone to transfer money to people and businesses worldwide.
Mr. Kitao believes that the payments can occur for free. The app is a huge hit in Japan, and banks such as Chikuho bank, Kyushu Electric, and more are working with Ripple to Issue a digital currency.
The companies plan to push for cryptocurrency with banks all across Japan is underway. In the midst of a global pandemic, Japan is a great country to place your bets on as its Blockchain industry has thrived in the last year.
The industry’s upturn surged in 2019 by 30%, as its friendly policies have allowed room for constant growth. By July in Japan, there were 430 Blockchain firms, and 64% of such firms are purely Blockchain focused.
In Japan, the Blockchain industry is booming as above 193 of the companies are epic companies. A large amount of the products from the Japanese Blockchain industry are targetting accounting and finance.
Japan is a place Ripple can leave a unique imprint.