Mizuho Partners with Ripple for Cross-Currency Settlements
Mizuho Financial to start trials of its new blockchain based Ripple application for cross-currency settlements. Financial service company Mizuho Financial Group (NYSE:MFG) has confirmed partnering with Ripple Labs to try out the latter’s blockchain-based solution for cross-currency settlements. The Japan-based finance giant, which is also a part of the R3 led international banking consortium, plans to utilize Ripple Protocol’s proprietary blockchain protocol – known as Ripple – to implement speedy and cheap cross-border settlements. SBI Holdings (TYO:8473), another Japanese financial....
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Mizuho Financial Group announced this week it will pilot Ripple's distributed ledger technology for use in cross-currency settlement. The trial will find the Japan-based financial services firm and R3 member, along with SBI Holdings, using Ripple's payment solutions to explore how cross-border payments could be conducted between the financial institutions. R3 will act as the consultant on the project. Representatives from Ripple said the trial is expected to evolve to the point where real payment information, and eventually, real funds, are moved between the companies. The startup, which....
Blockchain technology is captivating audiences all over the world, and now that the financial sector has taken notice of this trend, new projects are being announced on a regular basis. One of the most recent projects is the collaboration between Fujitsu and Mizuho Bank, as both parties will experiment with the blockchain to make cross-border securities transactions settlements faster and cheaper. Mizuho Bank And Fujitsu Explore Blockchain Technology. Whenever a new project revolving around blockchain technology is announced, there is great cause for concern among digital currency....
Japanese banking giant Mizuho Financial Group and technology firm IBM have announced a partnership to test blockchain technology used in settlements with virtual currencies, using code from the Linux Foundation-led Hyperledger project. Mizuho Financial Group, a prominent Japanese banking group that is notable for its blockchain-based endeavors with previous efforts such as a partnership with consulting firm Cognizant to build blockchain solutions for record keeping has revealed a new blockchain project with tech giant IBM. In a recent announcement, the Japanese financial group revealed a....
Private blockchains are making their way into the financial sector. Mizuho Financial Group and IBM are working on using this technology for settlement through virtual currency. The name Mizuho Financial Group is becoming synonymous with blockchain in the financial sector these days. In February of 2016, the financial institution partnered with Cognizant....
In an announcement today, Japan-based Mizuho Bank Ltd., and technology firm Fujitsu Labs Ltd., have revealed the successful operation trial of blockchain technology that saw tamper-proof results and same-day settlements of securities transactions. The two companies, following the announcement of a successful blockchain trail, revealed that they will develop an “exceptionally convenient financial system” that will see risks like price fluctuations negated from cross-border securities transactions. The 3-month trial between Dec 2015 and Feb 2016 saw Mizuho Bank, a leading custodian bank with....