Ripple’s MoneyGram Attracts Investment From Another Japanese Bank SMBC

  • SBI previously came in partnership with the crypto platform Ripple and used Ripple for the power remittance from japan to south Asia.
  • SMBC also accomplishes recent investment for doing a cashless business for individuals, and the financing delivered to MoneyTap for utilizing the Ripple’s technology.
  • SBI’s primary focus is to develop an advanced financial service with the involvement of blockchain technology.

SBI Holding will be going to provide a platform for the Financial Services based on blockchain technology mutually with the Sumitomo Mitsui Financial group to help the individual and business to deal with Financial Services quickly.

SBI also previously came in partnership with the crypto platform Ripple and used Ripple for the power remittance from japan to south Asia. Also, SBI uses MoneyGram’s payment network for the consignment.

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Last year in June, MoneyGram also collaborates with the ripple platform. SBI and R3 are going to circulate the various services in the sector of blockchain technology in the field of trade and finance to provide a cooperative corporation and a cashless way for users.

SMBC also accomplishes recent investment for doing a cashless business for individuals, and the financing delivered to MoneyTap for utilizing the Ripple’s technology. Also, megabank participated in the MoneyTap, which is mainly used for instant remittance and to provide payment for 24 hours a day, 365 days.

SBI, holding president also mentioned in one of his interviews, that he wants to implement a foreign exchange remittance with the help of ripples “XRP” on the MoneyTap platform.

SBI’s primary focus is to develop an advanced financial service with the involvement of blockchain technology. For this, maybe they are going to use their previous platform, also like Ripple and MoneyGram.

Both are going to help SBI to introduce a healthier financial service to all individuals by tacking blockchain as the primary concern. Even in the area of trade finance, R3 recently completed a significant economic trial on Corda.

Also, with the result, it is quite clear that the work related to the early cashing of account receivable, which previously performed manually using paperwork and now with the feature of standard user interface it can be completed quickly without any difference in recognition.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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