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SBI Holdings is considering accepting investment from Ripple to promote Money Tap business




SBI Holdings is considering accepting investment from Ripple to promote Money Tap business
Source: Unsplash

The partnership between Ripple and SBI is something that cannot be ignored when it comes to companies in the cryptospace that are making massive progress in terms of adoption. During a recent conference, SBI Holdings’ Yoshitaka Kitao revealed the company’s plans about its future with XRP, Money Tap, Japan, and Ripple.

Money Tap is an application that is powered by Ripple’s xCurrent technology; it allows for quick, safe and comfortable money transfers in a country where transactions can only occur on weekdays between 8:30 a.m and 3:30 p.m.

In a recent document released by SBI Holdings, it was disclosed that Money Tap will now be open to accepting investments from Ripple. The document read,

“At a stage where the acceptance of investments from domestic financial institutions has been completed, Money Tap will now consider accepting an investment from U.S. Ripple, in order to strengthen technical cooperation and the promotion of initiatives related to international remittances”

This investment would proactively promote the Money Tap business, with SBI Holdings also announcing that the company was transitioning to a company structure.

The document further expanded on Money Tap’s superiority over other methods generally used in Japan, some of which include low maintenance cost, providing low-cost payment network 24×365, and no fee policy for small amount remittances, depending on the policy of each interconnecting bank.

SBI Holdings announced recently that it had set up a subsidiary, Money Tap Ltd, to increase promotion of the application on March 19. The establishment was granted ¥100 million as capital during the time of establishment, which would be increased in the future. SBI Holdings had said,

“The newly established Money Tap will evolve its domestic and foreign exchange consolidation consortium developmentally and take over its role, as well as for banks and general users to drive the rapidly expanding cashless flow. Plan to provide service more quickly.”

Additionally, Money Tap also started accepting investment from 13 regional banks including Seven Bank.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time writer at AMBCrypto and a part-time novice trader.


Ripple’s XRP Ledger Dev Portal unveils updated version of WebSocket API Tool




Ripple's XRP Ledger Dev Portal unveils updated version of WebSocket API Tool
Source: Pixabay

Ripple XRP Ledger Dev Portal revealed an updated version of the WebSocket API Tool. The latest development in the Ripple ecosystem will enable users to directly communicate with rippled servers, which is responsible for powering the XRP Ledger Network.

An official post detailing the WebSocket update stated that the tool has been incorporated with unique functionalities to the existing tool structure. The “refreshed tool” which was launched as part of the recent site relaunch, allow users to choose which servers to connect, which will include public servers that Ripple operates, XRP Test Net servers or any server that the user locally runs on its computer. This feature is called Server Selector.

The refreshed tool provides options to connect to Ripple’s general-purpose public XRP Ledger servers, full-history public servers, Test Net servers, or to your own server running locally. This list can also change to provide more options in the future.

Another feature incorporated in the latest update is the new Permalink button. The button provides a link wherein users can use to share the current state of their inputs, which includes the request body and the selected server. The official post detailed that the Permalink feature is similar to other web tools such as JSFiddle or CodePen, which “provides a way to prepare a set of inputs and share it with others.”

Another feature is the curl Syntax Button, represented by “>_ ” icon. The button is designed to load a popup with the current inputs of the request box, which is converted into a JSON-RPC call which can be made with the curl utility.

To eliminate simple syntax errors, the upgraded tool has incorporated a feature called Error Highlighting, which as the name suggests, highlights lines with errors by placing red circled X marks.

The Message History Management will display all types of messages in one single stream, which maintains a history of the user’s previous calls until the page is closed or a different server is selected or the history is cleared by selecting the “Clear History” button. The blog further detailed,

“The amount of history the tool keeps at a time isn’t unlimited, which is another change from the previous version. By default, any time the tool receives a new message, it deletes any messages older than the most recent 50, though you can set this to be any amount you like.”

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