newsfeed : Japanese MegaBank Mizuho Tests its Own Digital Currency

in newslink •  6 years ago 

 Japanese banking giant Mizuho  has tested its digital currency developed in partnership with IBM Japan  to reduce costs of money transfers, a report has revealed. The Mizuho Financial Group-IBM partnership announced earlier this year has seen successful testing of digital currency developed by the bank and the technology giant. 
 According to a report Nikkei  today, the three-month-long test saw trials use a mobile application  wherein a single unit of Mizuho’s digital currency is equivalent to a  single Japanese yen, essentially replicating fiat cash in value for the  trial. 

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