Bitcoin Forum

Japan’s SBI Holdings, a major financial services group already invested in digital currencies and blockchain technology (via Ripple), is set to issue its own digital currency for payments. According to the prominent regional publication Nikkei, the financial group’s digital token will also be tradeable for Japanese yen and will be based on blockchain technology.

The digital currency will enable consumers to make payments at stores instantaneously and can also be used to make peer-to-peer transactions at significantly lowered costs compared to existing methods including credit cards and ‘digital money’ (wallet cash that assumes the value of fiat cash).

SBI’s digital currency will reportedly maintain a stable exchange rate to the Japanese yen. SBI’s employees will begin testing the digital currency at stores near the company’s Tokyo headquarters next year.

Soon SBI will bring the proven cryptocurrency technology to india after launch. What are your thoughts about it ?

Thank You for sharing this news. SBI with new crypto currency sounds good, but still there is no rule for crypto currency regulation, as per the moneycontrol news, India is preparing a law for regulation of crypto currency and it should be applied before 2018, if largest bank sector "SBI" promote it's digital currency then another revolution will be occur in economy.

SBI is among one of the top banks in the world owned by government of india, a multinational bank. If SBI adopts blockchain technology and brings it to india, i guess development in india will increase at a much faster pace.

LOL dude here SBI is NOT STATE BANK of INDIA rather Strategic Business Innovator Group of Japan.

You are right @manav24, It is japana's SBI Group not State Bank Of India Branch in Japan.

Thanks for the making this clarification else unnecessary SBI means for Indian its only one thing and there would have being a huge rumour across India that State Bank of India in Japan has started cypto currency payments. It would have being a huge misleading for the people .

if you have not clarified it , me too would have thought it as sbi india . thanks for info and clearing doubts .

When will other banks follow?