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The Japanese bank Shinsei signed a Memorandum of Understanding (MoU) with the blocker startup ConsenSys to expand its exploration of technology applications for finance, according to Cointelegraph Japan on November 8th.
According to an English-language press release published the same date, the MoU provides a commercial alliance between Shinsei Bank, Hong Kong's limited-licensed Nippon Wealth bank, Singapore Tribay Capital's private equity fund and ConsenSys. The latter was founded in 2014 by the co-founder of Ethereum (ETH) Joseph Lubin and is currently based in New York.
The alliance between the four entities will focus on the exploration of the use of decentralized applications (DApps) of ConsenSys for the development of new financial products and services, with Nippon Wealth leading a study on blockchain infrastructure and protocols for the banking sector.
According to the press release, Nippon Wealth has "completed a capital injection through an allotment of parts of OJBC Co., Ltd., its owner." The alliance means that Tribay Capital will become a new shareholder of Nippon, with Shinsei Bank, which remains its majority shareholder – maintaining 50% of shareholders' rights, according to CT Japan.
Following the study, the parties indicated that they will distribute blockchain offers and details of new services on their "later" banking platforms.
This week, a computer security subsidiary of the Japanese Nomura Research Institute (NRI) announced a new blockchain security alarm tool, while confirming a partnership with ConsenSys.
As reported recently, blockchain is becoming a focal point of the traditional Japanese financial sector, with the IT multinational Fujitsu announcing at the end of October its plans to build an interbank settlement platform using blockchain technology as part of a joint project with nine national banks.
Also in October, the Japanese financial services giant SBI Group launched an enhanced liquidation system (XRP) that leverages Ripple's xCurrent solution to allow domestic bank transfers in "real time".
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