SBI Ripple-powered MoneyTap swells with 4 addition partners

Fibo Quantum

  • MoneyTap now boasts of 29 banking institutions using the application.
  • Ripple price remains lethargic after refreshing lows towards $0.24.

One of the most significant Ripple partners SBI Holdings continues to push the limits for Ripple-powered MoneyTap app. The banking consortium based in Japan has announced four additional banks joining MoneyTap including Awa and Kita-Nippon. The new members bring the total number of institutions using the application to 29.

MoneyTap is an xCurrent powered platform that process transactions instantly among banking partners. The app was released in March 2018 to allow faster and cheaper fund transfers.

The platform does not use XRP to send money, however, SBI Group revealed last week that its shareholders will be sent dividends in Ripple’s token. SBI Group has been a strong supporter of Ripple and its blockchain solutions. It has predicted that XRP will be a digital asset to be reckoned with by the year 2025.

In spite of the support from the Asian banks, Ripple price remains lethargic after refreshing lows towards $0.24. The upside is limited at $0.28 with $0.255 functioning as the new pivotal level.

Read more: SBI Ripple-powered MoneyTap swells with 4 addition partners