In March, Ripple first announced that the Japan Bank Consortium is working on a 24/7 transaction settlement application called MoneyTap. To facilitate the transactions, the app will use Ripple’s blockchain technology, but there’s currently no indication that it will be employing the XRP token in the process.

The MoneyTap project is now moving forward, and there is now an official website for the application, although it provides almost no details. The website was unveiled by Takashi Okita, CEO of SBI Ripple Asia.

Ripple has a strong partnership with Japanese financial services firm SBI, which has launched their own cryptocurrency exchange called VCTRADE.

According to the March announcement, SBI Net Sumishin Bank, Suruga Bank and Resona Bank will be the first members of the consortium to go live with the app, which, according to the MoneyTap website, is expected to launch in autumn this year.

Spanish banking giant Santander has already launched OnePayFX, a cross-border transactions app based on Ripple’s tech.