Categories: Ethereum

Japan’s Shinsei Bank, Nippon Wealth Form Business Alliance with Blockchain Startup ConsenSys

Click here to view original web page at cointelegraph.com

Japan’s Shinsei Bank has signed a Memorandum of Understanding (MoU) with blockchain startup ConsenSys to widen its exploration of the technology’s applications for finance, Cointelegraph Japan reports Nov. 8.

According to an English-language press release published the same date, the MoU entails a business alliance between Shinsei Bank, Hong Kong-based restricted license bank Nippon Wealth, Singaporean private equity fund Tribay Capital, and ConsenSys. The latter was founded in 2014 by Ethereum (ETH) co-founder Joseph Lubin, and is currently headquartered in New York.

The alliance between the four entities will focus on exploring the use of ConsenSys’ decentralized applications (DApps) to develop new financial products and services, with Nippon Wealth spearheading a study of blockchain infrastructure and protocols for the banking sector.

According to the press release, Nippon Wealth has “completed a capital injection through a third-party allocation of shares of OJBC Co., Ltd., its owner. The alliance means that Tribay Capital will become a new shareholder of Nippon, with Shinsei Bank nonetheless remaining its majority shareholder — retaining 50 percent of shareholder rights, according to CT Japan.

Following the study, the parties have indicated they will roll out blockchain-related offerings and details of new services on their banking platforms “at a later date.”

This week, a cybersecurity subsidiary of Japan’s Nomura Research Institute (NRI) announced a new blockchain security alert tool while also confirming a partnership with ConsenSys.

As recently reported, blockchain is becoming a key focus of Japan’s traditional financial sector, with multinational IT firm Fujitsu announcing late October its plans build an interbank settlement platform using blockchain technology as part of a joint project with nine domestic banks.

Also in October, Japanese financial services giant SBI Group debuted a Ripple (XRP)-powered settlement system that harnesses Ripple’s xCurrent solution to enable domestic bank-to-bank transfers in “real time.”

According […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

2 hours ago

Bitcoin History Part 15: Silk Road Is Born

Silk Road launched in February 2011 as the darknet’s first bitcoin-based marketplace. Within four months, it would be the darknet’s… Read More

2 hours ago

Sunday Digest: Bitcoin Price, Pantomime Season, More Craig Wright Lies

Share Tweet Send Share This week, US President, Donald J Trump, decided that he would like to buy Greenland, thereby… Read More

2 hours ago

Bitcoin Twitter Is Daydreaming About a Hong Kong Bank Run

Crypto-fever dreamers cheered as Hong Kong protesters suggested organizing a bank run, but apparently rioters didn't flock to bitcoin. |… Read More

2 hours ago

World Bank issues second tranche of Ethereum blockchain kangaroo bond

'Kangaroo bond' is the name given to a foreign bond, issued in the Australian market and denominated in Australian dollars.… Read More

2 hours ago

What the Theft of a BBC Reporter’s $30,000 in Ethereum Shows About Cryptocurrency

Last week, BBC contributor Monty Mumford lost $30,000 of Ethereum . This came after a logical thought process: invest in… Read More

2 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More