JCB, the biggest credit card issuer in Japan, has partnered with TECHFUND, a technology accelerator, to build a sustainable transaction system on the blockchain.
On May 15, it has been reported that the partnership will utilize TECHFUND’s expertise on security token offerings (STOs) and staking to create a new platform for transactions.
Also based in Tokyo, TECHFUND has a program called ACCEL BaaS (Blockchain as a Service), which aims to accelerate the adoption of blockchain technologies for startups and enterprises.
However, the financial firm has made some steps towards innovative solutions to online payments.
Thus, JCB was planning to adopt a new business-to-business (B2B) payment solution based on blockchain technology in December 2019.