ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Japanese banks teaming up on blockchain tests

Bankers' association to coordinate industrywide efforts

Blockchain technology keeps a shared digital ledger on multiple computers.

TOKYO -- Banks large and small in Japan will try out the technology underlying bitcoin for such services as money transfers under the auspices of a trade group.

The Japanese Bankers Association will build a platform by the end of fiscal 2017 for major and regional banks to run the blockchain tests together. The Financial Services Agency and the Bank of Japan will be positioned to offer regulatory advice. Amid the rise of financial technology, banks are looking for ways to lower costs and improve customer convenience.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more