Japanese Fintech heavyweight SBI Holdings plans to launch a Ripple-powered mobile payment application called MoneyTap. In a tweet shared with his followers, Takashi Okita, CEO of SBI Ripple Asia shared the web page of the new payment application, which promises to offer "easy bank transfer application" without fees.The exact launch date for the mobile app is uncertain, but the site gave an estimated timeline for the release of both the iOS and Android versions for Autumn of 2018.Earlier this year, SBI Ripple Asia, a joint venture between SBI and Ripple, announced plans to create a "groundbreaking smartphone application" based on Ripple's blockchain technology which will allow bank customers to settle transactions instantly. MoneyTap is expected to "provide on-demand payments" to Japanese customers through its consortium. The project is currently supported by the Japan Bank Consortium (JBC), a collection of 61 Japanese banks members brought together by SBI Holdings and SBI Ripple Asia. Some of these banks, namely, SBI Net Sumishin Bank, Suruga Bank and Resona Bank, will reportedly have priority to offer the service to its customers after launch, while the other banks will have access to the technology down the road. The payment app hopes to increase the flexibility of domestic payments in Japan and eliminate the current time constraints imposed by traditional banking systems. Once it goes live, the appli... For Further Information Click on Below Button