Bank Resona abandoned the Ripple Base Service

The Japanese Bank Resona announced that from May 13, he would stop supporting the application for Money Tap remittances based on the Ripple payment solution. The company does not indicate the reason for such a decision.

The fifth largest bank of Japan was one of the three banks participating in the development of the project from the very beginning. In addition to Resona, the creation of Money Tap was engaged in SBI Sumishin Net Bank and Suruga Bank.

The application running in October 2018 allowed users to make free interbank transfers to the phone number or QR code of the recipient. To confirm operations, biometric identification was used. Since the product is based on the product Ripple Xcurrent, transactions are instantly processed and absolutely safe.

Recently, another 13 banks have joined the project as shareholders, which do not yet use technology.

Despite the refusal to support a convenient payment solution, soon the distributed registry technology will begin to use millions of companies around the world, since the International Chamber of Commerce