coinspectator - 9/14/2018 7:07:40 PM - GMT (+0 )
The project is currently supported by the Japan Bank Consortium (JBC), a collection of 61 Japanese banks members brought together by SBI Holdings and SBI Ripple Asia. The payment app hopes to increase the flexibility of domestic payments in Japan and eliminate the current time constraints imposed by traditional banking systems. In addition, the mobile app will eliminate "existing banking and ATM fees" that are currently applied to domestic transfers in Japan, making transfers faster and cheaper for consumers.
When the project was first announced, Okita stated his excitement, heralding that the mobile app and Ripple’s blockchain will "improve payments infrastructure in Japan." “Together with the trust, reliability, and reach of the bank consortium, we can remove friction from payments and create a faster, safer, and more efficient domestic payments experience for our customers,” he added. “We’re proud to provide this production-ready technology that not only improves the international payments experience, but also have applications for domestic payments infrastructure.” Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full