“The project is in the early stages, and we have just held study meetings with other institutions,” a spokesperson for Japanese bank Mizuho Financial Group told CNBC on Wednesday.
“This will be pegged with Japanese Yen, and hopefully used to make payments and transfers through a mobile phone app,” the bank said.
According to a report by the Financial Times, a consortium of Japanese banks are working on the project, and they are interested in launching the J-Coin before the Tokyo Olympics in 2020.
THE PROJECT HAS THE SUPPORT OF THE CENTRAL BANK and Regulators. The J-Coin will allow Japanese consumers to pay for goods and services with their smartphones.
.jpg)
Congratulations @waheebisb! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThank you