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Ripple backed Japanese group SBI launches its own digital currency on MoneyTap

SBI launches its own digital currency 'S coin' on MoneyTap,a digital payments platform. The currency is still in its experimental phase.<br>

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Ripple backed Japanese group SBI launches its own digital currency on MoneyTap

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  1. Ripple backed Japanese group SBI launches its own digital currency on MoneyTap SBI launches its own digital currency 'S coin' on MoneyTap,a digital payments platform. The currency is still in its experimental phase. The ​Strategic Business Innovator ​(SBI) ​Group based out of Japan is         experimenting with its own digital currency ‘S Coin’. Therefore SBI launches           its own digital currency on MoneyTap. The information was reported           through a local news agency. The currency has been developed on Corda,             an open-source blockchain platform. It will be first rolled out for SBI’s       employees on the payments platform MoneyTap.                                                                    Ripple and SBI itself back MoneyTap. The currency itself will function as a           settlement currency. This means to say that the people using it will have to           pre-pay into it to use it. Holders will have to transfer money from their bank                 accounts into their digital wallets where S coin is held, and can then use it           at any store where MoneyTap is accepted.                                                                      SBI has already been making use of blockchain technology. It has been             issuing gift certificates using the same. SBI announced S Coin more than           12 months ago and has been developing it ever since. The company has             invested a lot in the blockchain space already. SBI has holdings in             enterprise blockchain technology R3. Moreover, they also own the       exchange SBI Virtual Currencies which has been live for a year now.                                                                  Raedmore:  https://cryptodose.co/ripple-backed-japanese-group-sbi-launches-its-own- digital-currency-on-moneytap/ 

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