Japan has been the root of all cryptocurrency undertakings ever since its inception, be it joint projects or acquisitions.
Japanese firms are driven by passion and a tendency to lead. A recent partnership between an e-commerce giant with a Japanese railway company has proven this again. According to a recent news report, the E-commerce giant Rakuten has entered into a partnership with the East Japan Railway Company on June 5th. The endeavor has been initiated to promote a payment system of cashless transactions.
A new partnership is on the brim of closure, which is between the telecom giant based in Japan, KDDI, and the crypto exchange giant, DeCurret.
A press release dated February 18th indicated a collaboration between two firms, which were the AU Financial Holdings and WebMoney. The two firms will be conducting a collaborative undertaking to gauge the digital currency handed out over a blockchain to facilitate real-time transactions.
In order to proceed with the test, KDDI is to submit requests to WebMoney with an aim to issue and allocate digital currencies and the parent firm of the latter, which is AU Financial Holdings will manage the joint project. DeCurret would take up the role while offering the platform for digital currency issuance as well as management.
The joint-project will operate from February 18th to February 28th. It will likely broaden the range of offerings that DeCurret has. For this, the portal will be gauged employing cryptocurrencies into real-time transactions such as at a dining restaurant.
DeCurrent has evolved a lot since its launch, which was in April 2019. The exchange is already celebrating a regulatory approval from the Financial Services Agency of Japan that has given it clear chit to let its users refill the Suica transportation cards of the country using cryptocurrencies.
After the successful implementation, the project would kick off the cryptocurrency mainstream adoption as they continue to be used as a medium to buy a group of services and also to facilitate transactions in the real-world. It is anticipated to expand its use of digital currencies and grow awareness about blockchain technology.