Japan Banks Launching Digital Currency Platform

Mizuho along with 60 other banks are launching a new digital wallet called J-Coin Pay; the name implies that J-Coin might be a digital token but does not use cryptocurrency or blockchain; it is a self described digital currency platform that uses QR codes to process smartphone payments, similar to Alipay and WeChat Pay; Japan still relies heavily on cash and one of the goals for the government is to increase the growth of digital transactions; currently digital payments only account for around 20% of transactions, compared to over 60% in China. Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]