Japanese Banks Plan Blockchain Forex Services
A new consortium of Japanese banking and financial services giants will seek to use blockchain technology to provide domestic and foreign exchange services. Japanese financial services giant SBI Holdings and its subsidiary SBI Ripple Asia, have collaborated to launch a consortium that will seek to use blockchain innovation – the technology underpinning bitcoin – in new payment and settlement services from October 2016. A press release [PDF] from SBI Holdings has revealed that the consortium will be named the “Consortium for Considering Blockchain Technology to Centrally Provide Domestic....
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42 banks are joining a newly-created Japanese blockchain consortium to enhance the cross-border payment industry. The consortium will focus on research and development, and will cover domestic and foreign exchange services by utilizing blockchain technology. SBI Holdings and Ripple Asia Launch 42 Bank Consortium. .The Japanese blockchain organization....
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A group of Japanese financial institutions is looking to create a blockchain-based platform they could leverage to cut costs on domestic and foreign exchange services. Announced today, initial members include the Bank of Yokohama and SBI Sumishin Net Bank. Those involved in the effort will work with distributed ledger tech startup Ripple to develop the platform. SBI Holdings, which owns SBI Sumishin Net Bank and has invested in startups working with the technology in the past, said in a statement that as many as 15 banks are expected to take part in the initiative when it formally launches....
A group of Japanese banks and technology companies, including Orix, Shizuoka Bank, NTT Data and NTT DoCoMo Ventures, have formed a new blockchain research initiative. Announced today, the news marks the latest move by members of Japan's finance and technology sectors to embrace or experiment with blockchain technology. As a result of the announcement, NTT Data, a professional services firm with a focus on IT consulting, will work with digital currency startup Orb to research the technology with the initiative's partners. Orix and Shizuoka, the banks involved with the project, said they....
A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by Nikkei, Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘Zengin’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The....