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Ripple invests in MoneyTap, the exact amount is not yet known. MoneyTap is a subsidiary of SBI, which is a close partner of Ripple. Ripple is thus focusing on strong growth in Japan and is increasingly finding its center there.
SBI Holdings and Ripple are long-standing and good partners. This is also shown by the fact that the SBI is in turn invested in Ripple. Most recently, in December 2019, it was one of the investors who invested a good 200 million US dollars in the company.
Now, to a certain extent, one reciprocates and Ripple invests in the SBI subsidiary MoneyTap. MoneyTap was founded in 2018 by the joint venture “SBI Ripple Asia”. The exact investment amount is not yet known.
With MoneyTap it is possible to send and receive money. QR codes and telephone numbers are used as send and receive addresses. To do this, MoneyTap uses RippleNet, which can be used, for example, for peer-to-peer payments, but also for interbank payments.
SBI relies on Security Token Offering
Apart from the close connection to Ripple, the SBI obviously relies on the advantages of tokenization of assets. At the beginning of October, an STO of the SBI e-Sports share, which represents the e-sports division of the conglomerate, was announced. A sector that receives completely different attention, especially in Asia, than something in the USA or Europe. The division is also a purely digital topic, which may make it a bit more suitable for it.
The STO is planned for October 30th and will be carried out by the securities subsidiary SBI Securities and ibet. Together with the very close partnership with Ripple, this shows once again that the SBI as a whole relies heavily on technological progress and the advantages of distributed ledger technologies.
In view of the recent concerns on the part of Ripple about the regulatory changes in the USA, it could be that not only a strategic partnership with the SBI, but even the relocation of its own center to Japan.