20 July 2018
Visit www.gemalto.com

Wirex and SBI Holdings team on Japan cryptocurrency payments card

23 October 2017  |  15704 views  |  0 Tokyo Skyline

UK-based Wirex has formed a joint venture with fintech investing powerhouse SBI Holdings to launch a cryptocurrency payments card in Japan.

Wirex already offers a Visa-backed cryptocurrency debit card but the new JV, called SBI Wirex Asia, will soon roll out a Yen denominated option. In addition, the partners plan to move into other Asian markets.

Wataru Kojima, CEO, Wirex Japan, says: "Japan leads the world in bitcoin regulation and our accountants are armed with the tools to accept bitcoin on balance sheets. I will ensure Japan maintains our preeminent position in this space though providing the most innovative and cost-effective technologies globally."

The partnership comes months after SBI Group invested $3 million in Wirex, as the Japanese FS giant seeks to build up its expertise in the DLT and cryptocurrency realm. It has also joined the R3 blockchain consortium, while its securities division has taken part in a distributed ledger pilot with the Japan Exchange, IBM and NRI.

In addition, the group's online bank is working with NRI to use blockchain tech for things such as bank account transactions and balance enquiries. And yet another distributed ledger partnership sees SBI working with Ripple to build an international remittance system platform in Asia.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SBI Ripple Asia advances on South Korea

SBI Ripple Asia advances on South Korea

19 September 2017  |  17470 views  |  0 comments | 16 tweets | 1 linkedin
SBI and Siam Commercial Bank open cross-border remittance rail using Ripple

SBI and Siam Commercial Bank open cross-border remittance rail using Ripple

30 June 2017  |  13557 views  |  0 comments | 13 tweets | 11 linkedin
Japanese banks flock to blockchain consortium

Japanese banks flock to blockchain consortium

01 November 2016  |  15442 views  |  0 comments | 23 tweets | 15 linkedin
SBI Securities and IBM test blockchain for bond trading system

SBI Securities and IBM test blockchain for bond trading system

21 October 2016  |  9474 views  |  0 comments | 9 tweets | 5 linkedin
Japan's SBI Holdings looks to raise $275m for fintech fund

Japan's SBI Holdings looks to raise $275m for fintech fund

12 May 2016  |  11216 views  |  0 comments | 21 tweets | 5 linkedin
Ripple to create Asian joint venture with SBI Holdings

Ripple to create Asian joint venture with SBI Holdings

29 January 2016  |  8937 views  |  0 comments | 15 tweets | 4 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12972 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10450 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9790 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6838 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6664 views comments | 2 tweets | 7 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job