Private-sector behemoths in Japan are exploring digital currencies as a way to streamline large fund transfers and settlements. A consortium of roughly 70 Japanese companies, including the country’s biggest financial institutions, have joined forces to trial and launch a new yen-based digital currency in fiscal 2022, sending a strong signal that the private sector was…
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Amid global economic contraction, Bitcoin appears to be gaining momentum against struggling fiat currencies. Bitcoin being regarded as “sound money” is a common refrain among many proponents of the popular cryptocurrency. With a finite supply of 21 million and a network secured by over 120 exahashes per second of computing power, the consensus among industry…
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The platform would aid central banks in Asia with developing a central bank digital currency. LINE, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency The Chosun Ilbo reported on Oct. 19. Anonymous sources familiar with the matter…
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China’s oldest exchange OKCoin has secured crypto licensing in Japan, makes OKCoin the first international exchange to obtain the license through an official channel. OKCoin, one of the oldest exchanges in China, is continuing its crypto exchange business expansion, announcing on March 30 that it has officially secured licensing in Japan. OKCoin has been anticipating…
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Central bank digital currency interest continues, Binance deletes the yen currency option, Coincheck completes its first staking payout, and more headlined news from Japan this past week. This week’s headlines from Japan include several central banks collaborating on digital currency research, Binance removing the Japanese yen from its platform, Japan’s Liberal Democratic Party investigating digital…
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