Japanese MegaBanks Partner Bitcoin Exchange, Pilot 1,500 Tns/Sec Over a Blockchain
Three of the biggest banking corporations in Japan have partnered bitFlyer, Japan’s biggest bitcoin exchange to test the viability of domestic money transfers over blockchain technology. The banks discovered that money transfers over a blockchain were just as fast, if not faster compared to traditional money systems. In a report today by regional publication Nikkei, few details have been revealed, about the banks-led blockchain tests including the crucial snipper of whether or not the distributed ledger used was, in fact, the bitcoin blockchain. It’s merely speculative, due to the....
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Another automotive company is moving into crypto. Toyota Systems, the IT arm of Toyota Motor Corporation, is collaborating with Japanese cryptocurrency exchange DeCurret to develop a branded Toyota digital currency, according to an official announcement on Oct. 26.The large-scale pilot will involve 2,500 employees at Toyota Systems. The platform will feature digital currency payments for benefits.According to the announcement, participating employees will be able to exchange the digital currency for benefits points or gifts from a catalog. Toyota Systems noted that the 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....
American stock exchange Nasdaq has named Chain as its official partner for its blockchain-based pilot program. Founded in 2014, Chain is a renowned Californian startup that assists institutions and enterprises in setting up customized blockchain infrastructure. In its short span, the platform has provided its services to a diverse range of sector, including payments, capital markets, telecom, banking, and energy markets. Blockchain, which is an underlying technology of the digital currency Bitcoin, enables these organizations to transfer and store information - money, assets, etc. - on a....
Following the controversial bank bailouts and Troubled Asset Relief Program (TARP) in 2008, reports show in late 2019 and 2020, the U.S. Federal Reserve participated in providing trillions of dollars in secret repo loans to megabanks. At the end of March, investigative journalists, Pam and Russ Martens from Wall Street on Parade, uncovered $3.84 trillion in stealth repo loans from the Fed to the French financial institution, BNP Paribas in Q1 2020. Additional data indicates that the U.S. central bank leveraged secret repo loans to provide a whopping $48 trillion to megabanks in late 2019....
Cryptocurrency exchange FTX has announced the acquisition of Liquid, which operates a regulated Japanese exchange, Quoine. The two companies “expect to work together to provide products and liquidity to clients in the Japanese and global markets.”
FTX Acquiring Liquid to Provide Services to Japanese Customers
Crypto exchange FTX is entering the Japanese crypto market. FTX CEO Sam Bankman-Fried tweeted Wednesday:
FTX is pleased to announce the acquisition of the Liquid group of companies, including an FSA-registered crypto-asset exchange to provide....