Japan will launch a system for mobile payments MoneyTap working on Ripple. The official release is scheduled for next autumn. The first to join him three banks: Resona Bank SBI Sumishin Net Bank and Suruga Bank.

CEO SBI Ripple Asia Takashi Okita explains that it is not so much about the crypto currency Ripple (XRP), but about its associated blockchain technology. Just to the system plans to connect 61 Bank, which accounted for more than 80 percent of all banking assets in Japan. However, to date integration has not yet reported.

According to the developers, MoneyTap Bank customers will be able to process transactions anytime of the day or night, seven days a week. Market analysts say: in the Japanese transactions is extremely necessary flexibility; any transaction that is not run on a weekday from 8:30 to 3:30 p.m. local time, at risk of delay. Despite the fact that already, attempts were made to simplify processing, the report indicates that the costs of implementing systems will be significant.

We will add, earlier it became known that the Japanese banking consortium has implemented a system of accounting based on developments in the Ripple transaction network of 47 Japanese major banks.

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