Japanese Mizuho Bank plans to introduce a Yen-Stable-Coins

the Mizuho Financial Group is planning for a Stable Coin that will be based on the Japanese Yen. Thus, the importance of the Yen in the international crypto-Ecosystem is growing.

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On 29. December 2018ShareFacebookTwitterLinkedInxingemail

You could say that 2018 was the year of stablecoins. The turmoil caused to Tether and Bitfinex for regular news Content. To the other bars, so many of the new Stable-Coin projects out of the ground like never before.

As the majority of the crypto-trading volume, Dollar is still in US, are also the most Stable Coins to the world's reserve currency. Furthermore, all of the major price index denominieren sites like coinmarketcap.com and coingecko.com the crypto-rates in US dollars.

starts to crumble, the dominance. Because even in Japan, crypto-currencies are becoming an increasingly popular investment object. This is not least due to the fact that Bitcoin is in addition to the Yen, the official currency in the country of the rising sun.

In this context, then, the reports about the imminent Launch of a stablecoins, which is based on the Japanese Yen, to see.

As the news platform Nikkei writes (caution: Paywall), the Japanese Mizuho Financial Group both the introduction of the Yen-Stable-Coins as a payment platform, with the help of which users in a variety of transactions with the new crypto-currency can pay.

data collection: Nothing is in vain

The advantage of the project is therefore the fact that Remittances and payments are to be made and thus cheaper than traditional payment systems. However, according to the reports, give user by means of the payments you automatically consent to the collection of transaction data by the Mizuho Bank. That is, the Bank expects the introduction of the Coins in the first line of data on the consumption patterns of their customers.

Mizuho is in terms of crypto is not a blank slate currencies. The financial institution made already in the year 2017, for attention, as it is considered the largest crypto exchange in the country, Bitflyer, with a loan of 1.76 million US dollars.

The new Stable Coin with an unknown name is to go in March 2019.