RIPPLE PARTNER SBI LAUNCHES DIGITAL TOKEN PLATFORM ON CORDA BLOCKCHAIN

Posted 29 July, 2020

Ripple partner and financial giant SBI Holdings has launched a new platform on which digital tokens using the Corda

Blockchain network can be issued.
In a first pilot project, the MoneyTap application based on the XRPL was also used to process transactions.

 

The financial giant SBI and long-time Ripple partner has announced in a new announcement that it has launched a new platform called S Coin. The platform can be used by governments and companies worldwide to issue digital tokens. S Coin is based on the Corda Blockchain network of the American company R3.

 

The platform is to be expanded to include local currencies
 

Although the current use is initially limited to digital tokens, the offer is to be expanded to the issue of "digital local currencies" in a timely manner. This would even make the platform suitable for issuing a central bank-supported digital currency, but SBI does not yet specifically describe this in its current objectives.

SBI further states that a pilot project has already been completed, in which the MoneyTap payment app was used for the internal processing of the transactions. As part of the pilot project, digital tokens were issued via the platform that were used for the value transfer. MoneyTap is based on the XRP Ledger and enables transactions to be carried out 24 hours a day, 7 days a week in a matter of seconds at affordable prices.

Through the interface to MoneyTap it is possible to withdraw money directly from the connected bank account without having to go through a third party. The platform's digital tokens are also called the S Coin platform and are debited directly from the account. Payments can be made at any merchant connected to MoneyTap.

This first showcase is intended to further advance the adaptation of blockchain technology and the new S Coin platform. SBI further states that the group of companies will promote regional networking between companies, cities and governments as well as financial institutions. A number of major Japanese cities have already expressed great interest in the issue of blockchain-based stablecoins.

The capital city of Tokyo has been working for a long time to launch a stablecoin that is linked to the yen in a 1: 1 ratio. This should be issued in time for the start of the Olympic Games this summer and used in large numbers. However, due to the corona pandemic, the event was postponed to the next summer of 2021 and with it the start of the stablecoin project.

 

Ripple launches Beta new P2P payment platform
 

Yesterday Ripple announced the launch of the new payment platform Payburner. Payburner is a new peer-to-peer platform for processing transactions in real time and relies on XRP. According to the official announcement, the platform will have extensive functions such as payment requests with directly encrypted peer-to-peer messages and the universal payment identifier PayID.

E-commerce retailers should be able to set up and implement Payburner within just 20 minutes with just a few clicks. Payburner has also been integrated into the WordPress plugin WooCommerce, so that every WordPress site can now use the platform.

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