Ripple Launches MoneyTap in Japan

September 27, 2018

Ripple Labs together with SBI Holdings has declared all legal paperwork finished to be recognized as legitimate digital payment processing company by Japan's Ministry of Finance.

The case may skirt all governmental restrictions for starting MoneyTap payment service that is primarily aimed at p2p currency transactions on blockchain.

Japan's Financial Services Agency (FSA) obliges all companies that are going to provide such services via banks’ open АРI to get licensed at regional financial bureaus. The standard was adopted early his summer.

Remember that the project was announced first back to spring this year and was claimed to involve initially five banks. But the company stressed it later the number would grow up to 60 over time.

The news has influenced positively the Ripple rate and pushed it up to the second position in the crypto stratosphere. But Ethereum-Ripple confrontation still goes on.


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