Crypto Exchange

Japanese MegaBank Mizuho to launch its Own Digital Currency

Japan financial company, Mizuho Financial Group now has plans to introduce a digital currency to be used for the payments and remittances in the March, according to the reports.

According to the report which has been revealed, the fees that the shops will require to pay for accepting the currency will be going to be much more lowers than the fees which are charged for the usage of credit card. The transfer of funds back between the bank and digital wallet will also be going to be free, as will be sending funds to other users.

Moreover, according to the report, the bank brought “about 60 regional banks on the platform” to promote and socialize the cashless payments options. Furthermore, some of the regional banks will be going to provide the service under the common name which has still not been decided yet.

The currency will also be going to be managed with the help of a dedicated smartphone application, and the payment will be made via QR codes. The token will be a stablecoin which will be fixed at a price of 1 yen per unit.

Mizuho Financial Group is a public banking holding company which has a revenue of 1.45 trillion ten in the year 2017, which is much more equivalent to $13 Billion. The virtual currency is the result of the development of the J-coin which announced last year in the September.

Share
Published by
Tags: MizuhoNews

Recent Posts

Tomarket App – A Guide to $TOMATO Airdrop, Farming and Web 3.0 Drop Event

Tomarket, Telegram's mini-app hits 20+ million all-time users and 8.8+ million daily active users. Tomarket…

2 months ago

Binance Lists Decentralized and Open L1 Blockchain Toncoin (TON) on its Platform

Cryptocurrency exchange Binance, today announces the listing of Toncoin on its platform. Toncoin is a…

3 months ago

iGaming Platform BC.GAME Signs $40 Million Deal to Become Principal Partner of Leicester City

The iGaming platform BC.GAME has signed a landmark $40 million deal to become the "Official…

4 months ago

Coinbase faces new lawsuit that claims SOL, MATIC, NEAR, MANA, ALGO, UNI, XTZ and XLM are securities

Coinbase crypto exchange and its CEO, Brian Armstrong, faces a new lawsuit that claims Solana,…

6 months ago

Service Beyond Gaming: The Support Experience at HugeWin

In the world of online gambling, the quality of customer service can make or break…

7 months ago

Bitcoin (BTC) Cycle: Aiming for $155,000 Peak by August 2025

Since its launch in 2009 Bitcoin has experienced several cycles characterized by bull and bear…

7 months ago

This website uses cookies.