Large Japanese financial group SBI Holdings, intends to issue its own digital currency for payments and instant transfers P2P, writes the Nikkei.
New digital currency will allow you to make instant payments in shops and can be used for making peer-to-peer transactions at greatly reduced cost compared to credit cards.
Digital token financial group based on blockchain technology and will have a stable exchange rate of the Japanese yen. The staff of SBI will test the digital currency in stores next year.
Note that less than 70% Japanese supermarkets take credit cards due to the high commissions and expensive equipment. Why Japan is lagging behind its Asian counterparts, especially China and Korea, non-cash transactions. The Japanese authorities in growth strategies FinTech has established the ultimate goal of increasing digital payments (currently 19%) to double in the next decade.
It is noteworthy that SBI in November of 2016, started his own trading and exchange platform for trading digital Virtual Currencies SBI Co., Ltd. It was the first digital currency exchange, supported by the Bank.
As reported, Japanese banks have formed a consortium to create a national digital currency J-Coin.
Read also: In Japan, there will be eleven new cryptocurrency exchanges