The Japanese group of companies in the field of financial services plans to issue its own crypto currency, which will be used to make regular and P2P payments.

The Japanese company SBI Holdings, which in fact unites the group of companies in the field of financial services, and which has already invested in one of the crypto currencies, namely, Ripple, intends to issue its own crypto currency. According to the well-known regional publication Nikkei, the token of this company will be available for bidding with the Japanese yen and will be based on the technology of blockade.

The digital currency will allow consumers to make instant payments in stores and can also be used to perform peer-to-peer transactions (P2P), while the costs of making such payments will be significantly lower than existing methods.

It is reported that SBI intends to maintain a stable exchange rate against the Japanese yen. SBI will begin testing this digital currency next year.

Expensive credit cards Less than 70% of Japanese supermarkets accept cards because of the high price of POS terminals (about $ 900) and no less expensive services. Despite its technological leadership in many areas, Japan lags behind its Asian counterparts, especially China and Korea, in non-cash settlements. The Japanese authorities have developed a special strategy for the field of fi nite, whose goal is to double the number of digital payments over the next decade.

The retail economy in Japan is more than ripe for working with new financial technologies, including crypto-currencies. After bitcoin got the status of legal means of payment, the real boom began in the country, and by the end of the year more than 300,000 Japanese stores plan to start taking bitcoin.

SBI is betting on bitcoin. It is noteworthy that SBI in 2016 has already launched its crypto-exchange platform, which is the first such organization in the country supported by an ordinary bank. Established in November 2016, SBI Virtual Currencies Co. , Ltd. , collected 300 million yen investment even before the start of work.

The SBI investment unit invested 3 billion yen ($ 27 million) in bitFlyer, one of the largest crypto-currency exchanges in the country.