Today blockchain settlements startup Fnality announced an investment from Mizuho Bank. It is one of the top five banks of Japan, two of which are already shareholders of Fnality alongside 12 other major financial institutions. In June, the startup raised
£50 million in a Series A funding round.
“We see that distributed ledger technology (DLT) offers huge potential and the use of USC (Utility Settlement Coin) as a settlement asset will be pivotal in enabling this change,” said Fumio Tajima, Executive Officer at Mizuho Bank.
In its
announcement, Fnality said it has made progress in developing the technology for the initial application of the USC. Earlier this year Ledger Insights was told a
USC launch is expected in 2020.
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