Ripple joins forces with Japanese bank card issuers

This news has great influence on Ripple price; XRP gained almost 12% in last 24h
27 December 2017   9123

SBI Ripple Asia, a joint venture of the Japanese financial conglomerate SBI Holdings and the Californian startup Ripple, is forming an association whose participants intend to use blockchain technology to create a single transaction register made using bank cards. This is reported by the Nikkei.

The new association will begin operating activities in January next year. It is expected that by this time about 10 issuers of bank cards will enter it, including JCB, Sumitomo Mitsui Card and Credit Saison.

The project participants count on the fact that distributed ledger technology can help reduce costs and improve the efficiency of business processes in the banking card industry as a whole. In addition, the block will be used to identify customers, combat illegal transactions, issue their own virtual currencies, etc.

This news had great impact on the Ripple price. XRP gained almost 12% in last 24h.

XRP Price Chart
XRP Price Chart

At the moment of press, these are the main Ripple market parameters:

  • Average price $1,26 
  • Market Cap $48 802 799 895
  • 24h Trading Volume $1 566 100 000

The most of the XRP is being traded at:

  1. Bithumb 32.43%
  2. Binance 8.69%
  3. Poloniex 7.82%

SendFriend to Raise $1.7 from Ripple & Mastercard

SendFriend got into the business accelerator "Barclays powered by TechStars" in September 2018
13 February 2019   160

New York-based payment startup SendFriend, focused on the use of XRP tokens for international remittances, closed a $ 1.7 million financing round from Barclays and fintech, Ripple, CoinDesk reports.

Mastercard Foundation, MIT Media Lab, Techstars Incubator, Mahindra Finance, 2020 Ventures and 8 Decimal Capital also took part in the round.

Note that SendFriend got into the business accelerator "Barclays powered by TechStars" in September 2018.

According to the representatives of the startup, the funds raised will be used to expand the staff, work with the community and marketing.

Initially, a startup will focus on labor migrants from the Philippines who regularly make remittances to their homeland from the United States. Converting US dollars to XRP tokens, and then to the Philippine peso, according to SendFriend, took few seconds.

It is noteworthy that SendFriend commissions will be 65% below the average in the traditional cross-border transfer industry.