Japan's Largest Credit Card Issuer to Launch Blockchain Payment System
Main page News, Blockchain, Japan

JCB, Japan's largest credit card issuer, has just teamed up with the technology accelerator TECHFUND to work on the development of a blockchain-based payment system.

According to the official press release shared by JCB on May 15, the company will use TECHFUND's expertise in security token offerings (STO) and staking to develop and launch a new payment platform.

TECHFUND has a program called ACCEL BaaS (Blockchain-as-a-Service) program, which is aimed at boosting the adoption of blockchain tech.

The financial institution has undertaken some initiatives aimed at developing new solutions for online payments. Thus, in December 2019, it was known JCB was working on a new b2b (business-to-business) payment solution driven by cryptos' underlying technology.

The company has issued its credit cards in more than 20 countries, including Japan, China, Taiwan, Indonesia, Korea and Russia.

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