SBI Ripple Asia has launched a blockchain money transfer application on smartphone, called 'Money Tap'.
Ripple announced on Twitter Thursday that "The Japan Bank Consortium launched Money Tap today, a Ripple-powered payments app to offer real time settlement for domestic payments in Japan."
Available for both iOS and Android devices, the app enables users to send funds from their bank account to another bank account using their telephone numbers or a QR code. 'Money Tap' has biometric log-in features, such as fingerprint scanning, for security.
Currently, the facility can be utilized by account holders of three Japanese banks that make up the consortium - Sumishin SBI Net Bank, Suruga Bank and Resona Bank.
Money Tap can be downloaded from the App Store and Google Play for free. There is no commission for remittance of up to 30,000 yen per day.
SBI Ripple Asia was granted permission to launch the app after it completed registration with Japan's Ministry of Finance as a licensed agent for handling electronic payments.
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