Japan Credit Card Issuer JCB to Build Blockchain Based Payment Processing Platform
JCB, the largest credit card issuer in Japan, has collaborated with TECHFUND, a tech incubator, to develop a sustainable payments processing platform using blockchain technology.
As per a media release made on May 15, the partnership will make use of TECHFUND’s proficiency on security token offerings (STOs) and staking to develop a distinct platform for various transactions.
TECHFUND, which is also headquartered in Tokyo, runs a program named ACCEL BaaS (Blockchain as a Service) which intends to boost blockchain technology implementation in enterprises and startups.
The financial institution has taken some initiatives to develop new solutions for online payments. It can be remembered that JCB, back in December 2019, was working on a new b2b (business-to-business) payment solution powered by blockchain technology.