SBI Ripple Asia to Trial Store Settlement Service for XRP-Powered Payments App MoneyTap

SBI Ripple Asia — a subsidiary of Japanese financial services giant SBI Holdings — is launching a store settlement service affiliated with SBI Holdings and Ripple’s jointly developed consumer-focused XRP-powered payments app MoneyTap. The new store settlement service reportedly intends to pave the way for the roll out of full-scale in-store payment services using MoneyTap by the end of the year.Its first trial demonstration — which leverages QR code technology using smart phones — will be conducted by SBI at a restaurant in Roppongi 1-chome Izumi Garden Tower, Cointelegraph Japan reports. SBI will reportedly analyze user experiences in order to develop the service before its launch at scale.In April, SBI Holdings’ CEO and representative director Yoshitaka Kitao was appointed as an executive of Ripple Labs Inc.SBI has also made a wide-ranging series of  investments in business developing crypto infrastructure and services.

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