Ripple's affiliate and investor, SBI Holdings, confirmed plans to incorporate Ripple-powered settlements through ATMs in Japan.
The news was disclosed in SBI's latest financial study, announcing a proposal to combine the MoneyTap-powered settlement network with ATMs operated by numerous banks throughout Japan.
Inclusion is meant to provide customers with easy accessibility to ATM funds irrespective of their banking ties.SBI maintains that the introduction of MoneyTap would also enable banks to minimize costs incurred by running ATMs, stating:
"At present, each bank has an ATM with its own bank app, but with a popular web interface, the same ATM may be used as its own jointly controlled ATM."
MoneyTap debuted on iOS and Android in October 2019, enabling instant money transfers through QR code or phone number.
During September 2019, Yoshitaka Kitao, SBI Chief Executive Officer and Board Member of Ripple confirmed that the organization was preparing to use XRP for remittances in the future.
Source: Cointelegraph
