Mizuho has completed a trade finance transaction between Australia and Japan, digitising documents’ dissemination process using a blockchain.
Japanese banking giants are looking to invest in financial technology startups, as the government is promoting innovation in the competitive fintech market.
Mizuho has become one of the first Japanese banks to adopt blockchain using Ripple.
Japanese banking group is planning to grow its financial technology business through new acquisitions. Meantime, regulatory authorities in Abu Dhabi are working on establishing fintech ecosystem in the UAE.
Thus R3 project has just grown up to 42 members – the world’s largest and most influential banks.
Mizuho Bank has became ensnared in North American legal fallout from Mt. Gox which collapsed last month after losing $400 Million worth of customers’ digital currency.