ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Altcoins

Ripple’s Partner SBI Acquires Stake in Daito Bank

by Olayode Yusuff
June 2, 2020
in Altcoins, Blockchain, Cryptocurrency, Finance, XRP News
0
Ripple’s Partner SBI Acquires Stake in Daito Bank
0
SHARES
462
VIEWS
Share on FacebookShare on Twitter

Prominent Ripple partner, SBI Holdings, keeps on increasing its tentacles with acquisitions. The firm has again acquired a stake in Daiko Bank, another regional bank in Koriyama, Fukushima.

Prospect co, a real estate company, sold enormous percent of its stakes in the bank to SBI Holdings, and gained around 84 million Yen in profit after the sales.

The acquisition whose concluding amount was not disclosed makes SBI Holdings have a 17.14 percent stake in Daito Bank. Daito Bank is now the fifth bank to benefit from SBI Holdings’ fourth megabank concept centered on linking regional financial firms together to close inter-relationship.

Now, SBI is the largest shareholder of Daito Bank and this may result in redesigning the concept of the regional banks in Fukushima. Don’t forget that SBI Holding also has the largest stake in Fukushima Bank.

The acquisition is a great help for Ripple-centric MoneyTap as the Daito Bank will have no choice than to be part of the MoneyTap concept spearheaded by SBI Holdings and Ripple Inc. Lab.

SBI To Link MoneyTap with ATMs Across Japan

Earlier SBI Holdings declared readiness to link MoneyTap with ATMs in Japan to reduce the cost of fund transfer and make transactions seamless.

The integration of MoneyTap with ATMs owned by different Japanese banks will make customers easily access their funds without minding the banks they are using.

SBI says with each bank having ATM operates with their personal bank app, linking them with a common app will make multi-bank ATM operation possible.

In 2019, SBI launched MoneyTap app on Android and iOS, enabling fund transfer with the use of QR Code and phone number. Transactions on MoneyTap are free, but in some instances, charges depend on the banks.

MoneyTap uses xCurrent for money transfer, and Kitao said he was looking for a way that will make the app make use of XRP token in the nearest future.

SBI Holdings President Kitao is a Member of Ripple Board of Directors

Yoshitaka Kitao, SBI Holdings president is a member of the Ripple Board of Directors. The president has a number of firms, acquired through SBI investment spray, under his management. SBI Holding has an investment in Ripple and R3, andit worked to solve the discord between the two blockchain firms.

Talking about creating use cases for XRP token, Kitao is at the front. SBI Holdings shareholders are being given some amount of XRP to increase the adoption of the digital currency.

Recently, SBI VC Trade, an exchange centered on XRP said it would be giving out 50 XRP to new accounts holders on the platform.

Tags: Daito BankMoneyTapRippleRIppleNetSBI Holdings
No Result
View All Result

Highlights

Elon Musk Loaded Up In Dogecoin before Pumping Bitcoin – Peter Schiff

Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us