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SBI Plans Issuing S Coin

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SBI Holdings(SBI), a listed Japanese financial services conglomerate, started developing S Coin, SBI’s blockchain-based digital coin, via partnerships, according to its website.
SBI partners with Orb, a Tokyo-based blockchain software developer, along with a listed Japanese manufacturer of coin machine GLORY.
SBI would use Orb’s blockchain technology, specialised in payment transaction, to develop S Coin’s digital platform.
GLORY, having an expertise in coin machine manufacturing, would also provide the payment solution for fiats and digital currencies in the form of wallets on S Coin platform, along with   the collaboration with SBI for S Coin pilot(demonstration) experiment at consumer shops in Tokyo’s commercial building.
Japanese Banks’ blockchain-based digital currencies such as MUFJ Coin and J Coin are also under the development.   
SBI has a market cap of about JPY 800bn(USD 7bn) .