Japan's SBI Holdings announced that Ripple-powered payment app MoneyGram has onboarded four more banks, including Awa and Kita-Nippon. Thus, the number of financial institutions that act as the project’s shareholders has risen to 29.
The MoneyTap app was launched back in March 2018 for conducting instantaneous transactions at any time by the Japan bank consortium, which comprises more than 60 banks. The xCurrent-powered platform was seen as a perfect solution for skirting domestic payment limits in the country.
However, as previously reported by U.Today, Resona put the breaks on its partnership with MoneyTap back in April without disclosing the reason for doing so.
While MoneyTap doesn’t use XRP, a subsidiary of SBI Holdings recently revealed that its shareholders would start receiving dividends in the third biggest cryptocurrency. The venture capital arm of the Japanese financial giant SBI Group also added that Ripple’s native token would be one of the most important assets.
XRP in the doldrums
Despite a flurry of positive news, the XRP price didn’t move an inch with its price sitting at $0.256.