Ripple onboards Forty Seven Japanese Banks

Ripple onboards Forty Seven Japanese Banks
02.03.2017 10:45 am

Ripple onboards Forty Seven Japanese Banks


SBI Ripple Asia reports that a consortium of 47 banks have successfully completed a pilot implementation of Ripple in Japan using a cloud-based payments platform. This platform, RC Cloud, is powered by Ripple’s solution and is the first in the world to enable real-time money transfers both domestically and internationally. As a result, the consortium has confirmed that it will move into commercial phase.

“Consortiums are not hard to come by in this industry, but what makes this significant is that these leading Japanese banks are focused on a clear use case and moving blockchain into production,” said CEO of Ripple Brad Garlinghouse. “This is a concrete example that our solution is already transforming how money is sent around the world.”

With 47 banks utilizing Ripple’s solution to enhance their payments system, the consortium has made large strides in moving towards commercialization. Throughout the process, various aspects of the RC Cloud operation have been evaluated including operational risks, regulatory considerations, standardization and potential interfaces to connect with banks’ accounting systems. The consortium also plans to connect with banks globally, continuing to expand the Ripple network.

“Domestic and cross-border payments have been silo processes that are expensive, but RC Cloud allows for a seamless transaction for both types of payments on one platform,” said CEO of SBI Ripple Asia Takashi Okita. “And as we continue to expand our network, we look forward to utilizing Ripple to enhance banks’ transactions across the world.”

The consortium’s achievement is evidence that Ripple’s distributed financial technology includes the only enterprise blockchain solutions for real-time cross-border payments and is a notable milestone for the growth of our global network. Over 90 banks globally are working with Ripple, including top global banks such as Santander, Bank of America and Axis Bank. On top of that, over 30 pilots have been completed and over 10 banks are currently moving into commercial use. Ripple is enabling actual use cases, including the consortium’s successful pilot and its move toward commercialization, bringing the financial industry closer to moving value the way it moves information today.

To learn more about joining Ripple’s growing global settlement network, please contact us.

Japan Bank Consortium member banks:

The Aomori Bank, Ltd.

The Ashikaga Bank, Ltd.

The Awa Bank, Ltd.

AEON Bank, Ltd.

The Senshu Ikeda Bank, Ltd.

The Iyo Bank, Ltd.

Oita Bank Co. Ltd.

ORIX Bank Corporation

The Gunma Bank, Ltd.

The Keiyo Bank, Ltd.

The San-in Godo Bank, Ltd.

The Sikoku Bank, Ltd.

The 77 Bank, Ltd.


The Juroku Bank, Ltd.

Shinkin Central Bank

Shinsei Bank, Limited.

SBI Sumishin Net Bank, Ltd.

Suruga Bank Ltd.

Seven Bank, Ltd.

Sony Bank Incorporated

The Daishi Bank, Ltd.

Daiwa Next Bank, Ltd.

The Chiba Bank, Ltd.

The Chugoku Bank, Limited.

Tsukuba Bank, Ltd.

The Tokyo Star Bank, Limited




The Nomura Trust and Banking Co., Ltd.


The Hyakugo Bank, Ltd.

The Hiroshima Bank, Ltd.

The Fukui Bank,Ltd.

North Pacific Bank, Ltd.


Mizuho Bank, Ltd.


Sumitomo Mitsui Trust Bank, Limited.

The Musashino Bank, Ltd.

The Yachiyo Bank, Limited.

The Yamagata Bank, Ltd.

The Yamaguchi Bank, Ltd.

The Bank of Yokohama, Ltd.

Resona Bank, Limited.

Bank of The Ryukyus, Limited.


Related News

Banking Circle secures five finalist places at 2020 Emerging Payments Awards

Banking Circle, the financial infrastructure provider to Payments businesses and Banks has secured 5 finalist slots in the 2020 Emerging Payments Awards.... Read more »

Starling, TranSwap and Remitr among first wave to sign up to Currencycloud Spark

New solution provides global multi-currency accounts to Fintechs and FIs

Read more »

Tinkoff launches charitable scheme ‘Cashback to Give Back’

Tinkoff is happy to announce the launch of its new charitable scheme Cashback to Give Back. The aim of the project is to help get... Read more »

PPRO announces 85% volume growth despite pandemic, accelerates plans with new investment from Sprints and Citi

PPRO, the world’s leading local payments platform-as-a-service, reports today an 85% increase in transaction volume from last year, highlighting the... Read more »

Absa ARO Completes Fully Virtual Implementation as It Moves to Fiserv for Card Management and Processing Across Nine African Nations

Fiserv, Inc. (NASDAQ: FISV) a leading global provider of payments and financial services technology, today announced that... Read more »

Mastercard rolls out new business intelligence platform for European banks

Mastercard today announced the launch of Market Trends, an interactive platform providing a comprehensive view of payments insights, competitive intelligence... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel