Mizuho’s J-Coin will be a normal digital token, not based on the blockchain technology. The J-Coin is an attempt by Mizuho to push electronic payments in the country.
Mizuho Bank will partner with over 60 financial institutions to use its J-Coin Pay platform while serving over 59 million customers.
Mizuho has completed a trade finance transaction between Australia and Japan, digitising documents’ dissemination process using a blockchain.
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.
The companies have developed a blockchain-based system to shorten the time of cross-border securities transactions settlement.
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.