Banking Giant Mizuho Invests in Japan's Biggest Bitcoin Exchange
Japan's largest bitcoin exchange by volume has announced a new round of fundraising. In a press release today, Tokyo-based Bitflyer revealed it had raised new capital from financial firms including Sumitomo Mitsui, Mizuho Financial Group and Dai-ichi Life Insurance Company. A report by Japan-based news source Nikkei indicated that the funding equalled roughly ¥200m ($1.76m). According to statements from the startup, the fundraising follows BitFlyer's work with Sumitomo and Mizuho on private blockchain solutions aimed at providing the core infrastructure for enterprise use cases. Notably,....
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Financial services giant Mizuho has announced a second blockchain technology trial to be focused on syndicated loans. Announced on 16th February, the project finds Mizuho uniting with other Japan-based companies, including Information Services International-Dentsu (ISID), blockchain startup Currency Port and Microsoft Japan Co, the local subsidiary of the US tech giant. ISID corporate communications officer Kayoko Lee said that the trial is still in early stages, as the partners seek first to "verify the applicability" of the technology to the post-trade process using Microsoft’s....
Mizuho is the latest in a string of organizations facing heat over connection to MT. Gox. (Reuters) Connection to the former leading Bitcoin exchange, Mt. Gox, has entangled another business partner in the exchange's highly publicized demise. One of Japan's largest lenders, Mizuho Bank Ltd., was added as a defendant to an existing U. S. lawsuit against Mt. Gox. The suit alleges that Mizuho aided Mt. Gox's fraud by providing banking services to the troubled exchange. Mizuho held fiat currency on behalf of Mt. Gox and its customers, and the amended lawsuit claims that the lender mingled....
Less than a year after raising ¥3 billion ($27 million) in a record funding round by a bitcoin and Fintech company in Japan, Tokyo-based bitFlyer now sees all three of Japan’s ‘mega-banks’ as investors in the bitcoin exchange. In an announcement today, bitFlyer, Japan’s largest bitcoin exchange and blockchain services company, revealed fresh funding from Mizuho Capital and SMBC Venture Capital, both of which are the investment arms of the Mizuho Banking Corporation and the Sumitomo Mitsui Banking Corporation respectively. The two banking corporations join Mitsubishi UFJ as investors in....
An interesting development is taking place in the infamous Mt. Gox lawsuit, as Mizuho Bank has been accused of not revealing the full extent of the problems faced by Mt. Gox from American depositors. Mizuho Bank had claimed it would be too difficult for their lawyers to handle the Bitcoin exchange case outside of Japan and tried to shed off any responsibility due to the alleged lack of jurisdiction. But what does this mean for affected Mt. Gox users? The Role of Mizuho Bank In Mt. Gox. Very few people are aware of how Mizuho Bank was responsible for managing all of the American fiat....
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....