Mizuho Bank who are part of Mizuho Financial Group with 30,000 employees and $1.8 trillion of assets is following Goldman Sachs and JP Morgan and launching a Stablecoin linked to the Japanese Yes in March 2019. Mizuho will be launching the J-Coin in conjunction with 60 other Japanese institutions and say there will be no transaction charges between the banks and the J- Coin wallets. It plans to charge merchants/shops much less than the 2% to 5% transaction fees that credit cards currently charge in order to offer a competitive advantage and gain traction.
The Digital Asset market in Japan is well established with e-commerce giant Rakuten, Japan’s equivalent of Amazon, and Line, a messaging App like WhatsApp, having launched their own Digital Assets already.
