Japan’s top credit card issuer JCB plans to adopt a new business-to-business (B2B) payment solution based on blockchain technology. JCB has signed a Memorandum of Understanding (MoU) with blockchain-based commercial payments platform Paystand to develop a digital payment platform for enterprises and customers in Japan, Cointelegraph Japan reports Dec. 20. Initiative to cut costs and delays associated with “pre-internet technology” in Japan’s $10 trillion B2B market The new joint development aims to cut costs and delays associated with “pre-internet technology” that is still practiced in Japan’s $10 trillion B2B market that is still dominated by cash transactions, Paystand CEO Jeremy …
Major Japanese bank Resona will withdraw from Ripple-powered blockchain payment project MoneyTap on May 13, the bank announced on April 11. A subsidiary of Resona Group, the fifth largest banking group in Japan as of 2012, Resona Bank joined the project in October 2018, along with SBI Sumishin Net Bank and Suruga Bank. Launched on Oct. 3, MoneyTap payment service uses Ripple’s blockchain solution xCurrent, which claims to offer instant domestic bank-to-bank transfers. The project was co-developed by Japanese financial services giant SBI Holdings and blockchain firm Ripple, the firm behind XRP, the third top cryptocurrency by market cap. In …
SBI Ripple Asia and the Japan Payment Card Consortium have announced a joint proof of concept (PoC) to combat fraud with blockchain technology, according to an official release published Nov. 16. According to the news release, the PoC will be conducted on R3's blockchain platform, Corda, and will aim to prevent damage wrought by fraudulent transactions by enabling the real-time sharing of data between parties using blockchain. The Japan Payment Card Consortium counts nine major credit card issuers – including American Express (Amex), Credit Saison and Toyota Finance – and two payment-card technology providers as members. SBI Ripple Asia is …
Disclaimer: Following reports that the card release news was false, Cointelegraph contacted SoftBank, which confirmed that the news was incorrect. SoftBank said that it is still trying to find out who made the announcement and how. Japanese holding company SoftBank has introduced a new debit card featuring a built-in cryptocurrency wallet. According to a press release on Dec. 1, SoftBank developed a debit card featuring a built-in blockchain wallet in collaboration with United States-based wallet card developer Dynamics. The new product is called SBC Wallet Cards and can be used as a traditional debit card or blockchain wallet. Crypto storage …
Mt. Gox trustee Nobuaki Kobayashi released updated information on Aug. 31 regarding the rehabilitation plan for creditors of the long defunct crypto exchange. According to the file, the restriction reference period starts on September 15, in which "the assignment, transfer or succession, provision as collateral, or disposition by other means of rehabilitation claims are prohibited." Kobayashi confirmed that creditors have until September 15 to submit claims regarding funds lost when the early crypto exchange collapsed in 2014: "During the Assignment, etc. Restriction Reference Period, the Rehabilitation Trustee will cease accepting applications for claim transfer procedures through the Rehabilitation Claim Filing …