Ripple said Wednesday that the app, called "Money Tap," will first go live in the fall.
It said the app would make it easier for banks to settle round-the-clock domestic payments in Japan.
Japan is home to a huge market for fintech, or financial technology — particularly in the areas of blockchain and cryptocurrencies.
Coinbase is launching a weighted index fund for cryptocurrencies.
Much like how the Dow Jones Industrial Average gives a sense of the American economy, this fund tries to reflect major trends in the cryptocurrency market.