Japan's first pure digital bank is researching the integration of stablecoin and digital wallets into daily financial services.
The project collaborates with Fireblocks, Solana Japan, and TIS technology company to issue stablecoin on the Solana platform and apply it for cross-border payments and asset transactions.
MAIN CONTENT
Minna Bank researches the issuance of stablecoin on the Solana blockchain.
Cooperating with Fireblocks, Solana Japan, and TIS in the testing project.
The use of stablecoin in daily payments and cross-border transactions.
How does Minna Bank study stablecoin?
Minna Bank is the first pure digital bank in Japan, currently researching the issuance of stablecoin with leading technology partners to expand digital financial services.
Information from Decrypt indicates that the bank collaborates with Fireblocks, Solana Japan, and TIS in an in-depth study on issuing stablecoin on the Solana blockchain. This is a strategic move to enhance digital payment capabilities and asset transactions safely and efficiently. This aligns with the trend of applying cryptocurrencies in the modern banking ecosystem.
Which organizations does Minna Bank collaborate with in the project?
Minna Bank partners with Fireblocks – a reputable digital asset custody solution provider, Solana Japan – a high-performance blockchain platform, and the renowned technology company TIS. This multidimensional coordination enhances the security, scalability, and practical applications of stablecoin in Japan's digital financial ecosystem.
"The collaboration between Minna Bank and technology partners aims to enhance the integration of stablecoin, creating a flexible and cross-border payment platform for the future."
Hiroshi Takahashi, CEO of Minna Bank, July 2024
Why was stablecoin chosen for Minna Bank's payment service?
Stablecoin provides value stability, minimizing volatility compared to traditional cryptocurrencies, making it suitable for daily payments and financial transactions.
The issuance of stablecoin on Solana allows Minna Bank to leverage fast transaction processing speed and low gas costs, while expanding potential applications in international payments and cross-border remittances. This is a trend chosen by many major digital banks worldwide to enhance customer experience.
What benefits does Minna Bank expect when using stablecoin?
Minna Bank aims to simplify the payment process, accelerate transaction speeds, while ensuring safety and financial transparency through blockchain technology. Additionally, stablecoin helps reduce intermediary costs and expand connectivity with global financial systems.
"Stablecoin acts as a new bridge in electronic financial transactions, helping digital banks provide services faster, safer, and more diversely."
Yuko Saito, Fintech Expert in Japan, June 2024
What is the significance of the stablecoin testing project on Solana in the context of Japan's finance?
Minna Bank's project marks an important step as the digital bank applies blockchain technology to traditional payment systems, demonstrating a modern vision and commitment to innovation.
Using the Solana platform not only creates breakthroughs in speed and cost but also opens up opportunities to develop DeFi products, promoting the acceptance of cryptocurrencies in a large financial market like Japan. This is a move aligned with the country's comprehensive digital transformation strategy.
Comparing the advantages of stablecoin on Solana with other platforms.
Criteria Solana Ethereum Binance Smart Chain Transaction speed ~4,000 transactions/second ~15-30 transactions/second ~100-200 transactions/second Gas fees Very low (cents) High, volatile Low Security Strong, decentralized network Very strong Good, but more centralized Diverse applications Rapidly developing Widespread, rich in DApps Rapid development
Frequently Asked Questions
What kind of bank is Minna Bank?
Minna Bank is the first pure digital bank in Japan, specializing in providing financial services through a modern digital platform.
Why did Minna Bank choose Solana to issue stablecoin?
Solana provides high transaction processing speed and low gas fees, making it convenient for quick, safe payments and asset transactions.
What benefits does stablecoin offer for digital banks?
Stablecoin helps stabilize value, reduce volatility, and enhance the efficiency of daily payments, suitable for modern trading needs.
How does this project affect Japan's financial ecosystem?
The project promotes digital transformation, increases the competitiveness of digital banks, and expands the application of cryptocurrencies in payments and cross-border transactions.
How is the security of stablecoin on Solana ensured?
The Solana platform has a decentralized network and advanced security mechanisms, ensuring the safety of assets and transactions for users.
Source: https://tintucbitcoin.com/minna-nhat-thu-stablecoin-tren-solana/
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