JCB, Techfund to research blockchain-based payments

JCB, Techfund to research blockchain-based payments


Japan-based payments firm JCB Co. entered a strategic partnership with technology accelerator Techfund Inc. to do joint research on a sustainable payment system using blockchain technology. 

The payment system being researched is based on Techfund’s blockchain technologies, including a Security Token Offering and staking, which is a way to reward cryptocurrency holders that maintain funds in a system and contribute to the stability of the system. 

An STO, similar to an initial coin offering or initial public offering, is a method of raising funds on the blockchain using tokenized securities. 

JCB is the largest card issuer and acquirer in Japan with more than 140 million cardmembers and a network of 34 million merchants. The card is issued in 24 different countries and territories worldwide.

Topics: Card Brands, Region: APAC, Cryptocurrency, Blockchain, Mobile Payments Companies: JCB International Co. Ltd.

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