Mizuho Bank is weighing possible client-facing services after testing a prototype digital currency in partnership with IBM Japan.
According to Nikkei, the initiative took place between July and September, focusing on an app that provided information about dining expenses and used the prototype currency as a basis.
With the Mizuho initiative, the goal was to see whether the bank could improve its transaction-monitoring capabilities and cut any costs associated with moving funds.
As IBM said at the time:
From here, Mizuho is planning to assess whether the IBM-backed digital currency trial could lead to new kinds of services for its clients, according to Nikkei. However, security concerns will reportedly play a role in those deliberations.
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