Ripple MoneyTap can soon be the biggest beneficiary of the recent merger of Yahoo Japan and Line. Internet duopoly of Japan could soon turn into a monopoly that could ultimately benefit Ripple. Ripple is at the ideal place to make the most out of recent mergers and acquisitions.
As per CNBC, Yahoo Japan of Softbank, the premier shopping and search engine destination of Japan, will merge with Line (the popular local messaging app). This is touted as the most strategic partnership to emerge from Japan in recent times. Softbank can boast of another feather in its crown with Line giving it social media dominance.
However, as per Line, the deal has not been officially confirmed yet. Softbank already holds a majority stake in the mobile unit of Line, which is bought in 2018. It is worth mentioning here that line is going through a tough phase and struggling to make ends meet after reporting consecutive quarterly losses.
Ripple MoneyTap customers are growing every day
The integration of Ripple MoneyTap with PayPay can give a significant boost to the Ripple’s operations in Japan. In a tweet, the ‘XRP Research Center’ shared similar sentiments where it is awaiting the development of this news to take advantage of the upcoming infrastructure.
Recently, SBI Holdings, based in Tokyo, the co-creators of MoneyTap app with Ripple, signed a deal with PayPay of Softbank. This bought it under Softbank’s umbrella to a certain extent. The addition of Line will further expand Softbank’s reach to its eighty-two million (82M) Japanese users. It means that the country’s two largest payment apps will be employing Ripple’s technology to process payments.
Ripple MoneyTap is big in Japan, and it is growing
Ripple’s blockchain forms the basis of Money Tap to conduct bank-to-bank transfers. It is gaining a serious customer base as its popularity grows across Japan. More and more banks are adopting the app in their daily operations.
SBI Holdings recently partnered with Fukushima Bank. The bank is struggling and will look towards integrating Ripple MoneyTap into its operations to gain customers.
Image Source: Flickr
