Mizuho to Launch Crypto For Cashless Payments

As part of the promotion of cashless payments in Japan, company attracted 60 local banks
27 December 2018   626

In March 2019, the Japanese financial corporation Mizuho Financial Group plans to launch cryptocurrency tied to the yen for mass use. This is reported by Nikkei Asian Review.

As part of the promotion of cashless payments in Japan, Mizuho attracted 60 local banks. According to the corporation’s plan, retail stores will charge a lower commission when calculating a new cryptocurrency than when paying with a credit card.

Holders of digital currency will be able to send funds to other users for free and transfer the asset from a bank account to a wallet. Cryptocurrency payments will be made using a special application and QR codes.

For the first time, Mizuho began testing digital currency back in 2016. The company plans to make cryptocurrency a basis for new mobile payment services.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.