Indian Banks Consider Promoting Blockchain Tech Use for Payments

Major Indian banks plan to focus on blockchain tech implementation to increase digital transaction quality. The National Payments Corporation of India (NPCI) is considering implementing blockchain technology to increase the strength of digital transactions, Indian business magazine Business Today reports on April 14.The initiative of ten banks, under the aegis of the Indian Banks’ Association (IBA), aims to improve the NPCI by implementing distributed ledger technology, the publication underlines.The NPCI, an umbrella organization that operates retail payments and settlement systems in India and includes 56 national banks as stakeholders, was set up with the guidance and support of the Reserve Bank of India and the IBA.…

Japan: Resona Bank Ends Partnership With Ripple-Based Payment App MoneyTap

Major Japanese bank Resona withdrew from Ripple-powered blockchain payment project MoneyTap without specifying the reasons. Major Japanese bank Resona will withdraw from Ripple-powered blockchain payment project MoneyTap on May 13, the bank announced on April 11.A subsidiary of Resona Group, the fifth largest banking group in Japan as of 2012, Resona Bank joined the project in October 2018, along with SBI Sumishin Net Bank and Suruga Bank.Launched on Oct.…