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Japan’s leading credit card issuer is building a blockchain payment system

Japan-based JCB has partnered with local venture capital firm TECHFUND to create a sustainable blockchain-based transaction system.

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Japan’s leading credit card issuer is building a blockchain payment system
Japan’s leading credit card issuer is building a blockchain payment system

Japan’s largest credit card issuer, JCB has partnered with TECHFUND Technology Accelerator to create a blockchain-based transaction system.

According to a May 15 release from JCB The association will use TECHFUND’s know-how in the area of ​​Value Token Offering (STO) and use to create a new platform for transactions. TECHFUND is also based in Tokyo and has a program called ACCEL BaaS (Blockchain as a Service) that is intended to accelerate the introduction of blockchain technologies for companies and startups.

JCB is already showing interest in blockchain

The financial company has taken some steps towards innovative solutions for online payments. Cointelegraph reported in December that JCB planned to introduce a new B2B (business-to-business) payment solution based on blockchain technology.

Hisashi Oki from Cointelegraph Japan contributed to the writing of this article.

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