A global company, JCB, has released a statement claiming that it is entering into a partnership with Japanese venture capital to develop a blockchain-based transaction platform. JCB is planning to fully utilize the blockchain expertise of the Security Tokens Disclosure (STO) to develop a ledger distribution trading platform. In the statement that was released on May 15, JCB stated that its partnership with the credit card company would be profitable.
Creating an efficient payment network via Blockchain technology
Awaiting the official announcement on the debut of the new platform, JCB plans to resolve settlement-related issues based on the use of a startup known as TECHFUND. The firm said they would further make use of TECHFUNDs expertise in STO and DLT to make their services efficient. This new platform aims to enable secure payment and to make an efficient decentralized platform for peer to peer transactions. The main objective of the payment system is to make sure that all middlemen in transactions are eliminated and that all associated problems are reduced.
JCB, which has its headquarters in Tokyo, is one of the leading credit card company in Japan and has affiliations with about 19 credit card companies across the globe. The company has a total of 90 million customer base around the world and about 29 million trade affiliations.
JCB partners PayStand to unveil B2B payments platform
JCB was said to have entered into a partnership with PayStand, a DLT payment company with its headquarters in California, USA. The objective of the association was to develop an efficient Business to business platform that would be powered by blockchain to provide payment solutions for big scale clients. Furthermore, JCB partnered with Fujitsu to create a digital currency / digital currency payments platforms. The payment platforms stores point data, points scores, regional currencies, and cryptos and convert them readily into any payment method that the holder wants.
JCB has been interested in exploring the crypto space due to their constant interests in the blockchain network as a means to facilitate efficient and secure online payments. As a result of this keen interest in blockchain technology, JCB has been hailed by analysts in the crypto sphere, tagging them as a “game-changer” that would keep other firms on their toes. With cryptocurrencies currently doing well in the digital assets market, the firm’s customer base would enjoy more profits as a result of their crypto conversation on the platform.