SBI Holdings To Launch S Coin Token For Mobile Retail Payments
The team of the Japanese corporation SBI Holdings announced plans to launch S Coin crypto in October to use it for mobile retail payments, CCN reports citing the company's press release.
S Coin was developed in cooperation with Orb and Glory Corporation. Thus, SBI aims to create a non-cash system of payment transactions in Japan.
Transactions with S Coin will be carried out through smartphones. SBI Group employees, which will pay with tokens in the restaurants owned by the company, will participate in the system testing. The trial operation will help to determine the blockchain technology possibilities on the way to creating a cashless society.
During the testing, SBI will combine the S Coin platform and the Glory ATM network, where it will be possible to use credit cards and S Coin wallets. Thanks to this structure, the token owners will be able to make various transactions and exchange their funds for fiat money. If the testing succeeds, the S Coin system can be distributed throughout Japan and further.
S Coin is a cryptocurrency issuing platform. Anyone can create cryptocurrency for his own purposes on its basis. The platform is based on Orb's DLT, which has extensive experience and vast software knowledge in the blockchain sphere, according to the SBI report.
Earlier, SBI Holdings invested in the LastRoots crypto exchange for the second time.