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Money Tap Partners with PayPay, Exposing RippleNet-Based Payments to Millions of New Users

ByBit
  • Yuri Molchan
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    Japanese payment app Money Tap teams up with PayPay, offering RippleNet-based payments to 10 mln users and 1 mln merchants in Japan

Money Tap Partners with PayPay, Exposing RippleNet-Based Payments to Millions of New Users
Cover image via www.123rf.com
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On October 30, an official note from the SBI Group in Japan announced that the Money Tap payment app set up by SBI and Ripple and included into RippleNet is to start a partnership with the PayPay system.

The new venture is going to run on RippleNet instead of the CAFIS infrastructure.

Millions of Japanese customers and merchants to be using RippleNet payments

PayPay boasts a user-base of ten million people in Japan, as well as about 1 million merchants and local stores.

Money Tap uses Ripple’s xCurrent system, which is much faster and cheaper than CAFIS or SWIFT. Now, PayPay is also going to run on it.

Thanks to the feature of conducting payments via a QR code, PayPay allows its customers to make purchases in both online and offline stores in Japan. It was created when the largest Indian payment company Paytm entered the Japanese market and launched PayPay with investments from SoftBank and Yahoo Japan.

At the moment, cryptocurrency is banned from use (including trading on exchanges) in India. However, if the ban is lifted in the future, it is possible that through Paytm Ripple-based payments will also be exposed to the Indian market.

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XRP and Ripple are getting popular in Japan

Previously, U.Today reported that Ripple’s XRP currency, third largest by market cap, became exposed to over 81 mln users of the popular Japanese LINE chat app and the new BITMAX exchange.

Any LINE user can access the BITMAX trading service via the LINE Wallet tab. The dev team planned to make BITMAX user-friendly to the maximum degree, so that even those who have zero experience with crypto or crypto trading can work with it.

Apart from XRP, BITMAX supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

 

What are your thoughts on the new expansion of Ripple in Japan? Feel free to share them in the comment section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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"You're being played"

Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

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Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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