HomeCryptoAltcoinResona Bank: the bank leaves Ripple

Resona Bank: the bank leaves Ripple

Resona Bank has decided to leave Ripple as of May 13th.

The announcement comes only a few weeks after the decision of several Japanese banks to use the Money Tap system for cashless payments and for small transfers, in collaboration with Ripple’s xCurrent.

“About the cooperation cancellation with the remittance application “Money Tap”, cooperation cancellation date: Monday, May 13th, 2019“.

As we can read in the statement, the service will be discontinued on May 13th, 2019, effectively cancelling the cooperation with the Money Tap service.

For the time being, there is no further clarification on this matter, so the reasons for this sudden cancellation are not yet known.

This is certainly surprising news as several banks are continuing to adopt Ripple’s payment system, demonstrating that they support this technology.

Ripple’s goal is to create more and more partnerships and collaborations to implement its technology in as many fields as possible and consequently become a reference point in the field of instant and transnational payments.

Like Stellar Lumens, in fact, Ripple’s objective and as well as core business is to become the blockchain of the banks, an element that arouses much scepticism in the most maximalist crypto-adopters, given that Ripple is, in fact, a centralised ledger that cooperates perhaps with the enemy number 1 of Bitcoin: the banks.

Ripple had recently announced the collaboration within the INATBA association to promote the education and regulation of the cryptocurrency and blockchain ecosystem. This news had caused a lot of stir since INATBA had also become part of SWIFT, a service seen as a competitor by Ripple.

Alfredo de Candia
Alfredo de Candia
Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.