Unlike the U.S., Japan considers XRP to be a cryptocurrency, not a security.
Ripple plans to invest in MoneyTap, the blockchain payments app birthed through a joint venture between the San Francisco-based firm and SBI Holdings.
SBI Ripple Asia is live testing in-store payments using its Ripple xCurrent-powered Money Tap app before a full launch "this year."
MoneyTap, a blockchain money transfer app built by SBI Holdings and Ripple, has just gone live in Japan.
A joint venture between SBI Holdings and Ripple has moved a step closer to launching its blockchain-based payments app for consumers.
Having revealed the plan in March, Japan's SBI Holdings says it will roll out a Ripple DLT-based payments app for iOS and Android this autumn.
A group of Japanese banks is planning to use Ripple's blockchain-based payments technology in a smartphone app aimed at general consumers.
South Korea's Wooribank has reportedly completed an overseas remittance test using Ripple's DLT solution.
The joint venture between investment giant SBI and Ripple is forming a group to research the use of distributed ledgers in securities products.
SBI Ripple Asia will reportedly start testing its blockchain-based funds-transfer system between Japanese and South Korean banks by the end of 2017.