If Softbank’s Yahoo Japan And LINE Merge, Will Ripple’s MoneyTap Get A Boost From SBI-PayPay?
- MoneyTap’s app was adopted by four Japanese banks in September 2019.0
- SBI Holdings was developed by Ripple and MoneyTap as a financial company.
Yahoo Japan by Softbank is the leader in search and shopping departments. Recent reports from CNBC reveal that the company is now launching with a leader in local messaging called Line, adding more to the many features of the Softbank Group.
While CNBC is reporting this merger as a certain thing, the official statement from Line is that the deal is still not done. Even though Softbank already has secured a majority stake in the mobile unit that Line runs in 2018, the company has recorded three quarters with massive losses, struggling to start making a profit.
Now, a recent tweet with the XRP Research Center states that it is possible for Line to take advantage of MoneyTap’s PayPay integration. The XRP Research Center watches the developing Ripple ecosystem for updates. PayPay is the e-payments app that Softbank and Yahoo already own.
— XRP Research Center (@XrpCenter) November 14, 2019
SBI Holdings, a Tokyo-based financial company that was developed between MoneyTap and Ripple, recently signed a deal with PayPay. Line Pay, in the meantime, has still reached 82 million users over time, which means that Ripple’s technology could realistically be used by the two biggest payment apps that use QR code.
Even though the fifth-largest bank in Japan, Resona, has snubbed MoneyTap, the company still has managed to rise in popularity in the country. The system, which relies on the blockchain technology offered by Ripple in their bank-to-bank transfers, has already been adopted by for additional Japanese banks back in September.
SBI Holding established an alliance with Fukushima Bank on November 11th. Fukushima Bank has stated that they want to integrate MoneyTap as well to improve profitability.