Sony Bank Introduces Stablecoin Trial on Polygon Blockchain

by Giorgi Kostiuk

3 years ago

Made with AI

The banking division of Sony, Sony Bank, has begun a trial on the Polygon blockchain to explore stablecoin options. This move by Sony aims to investigate the benefits of stablecoins in reducing payment and remittance fees while also supporting gaming and sports intellectual properties. The project, which will involve Japanese yen-backed stablecoins, is anticipated to last several months and will be managed by SettleMint, a blockchain company based in Belgium.

Sony Group has been actively involved in Web3 development recently. In a patent filed by the gaming division, there are plans to incorporate non-fungible tokens (NFTs) to enhance the flexibility of gaming assets. Collaborating with Startale Labs, a significant developer of Astar Network, Sony has been working on creating its public blockchain network. Startale Labs' CEO, Sota Watanabe, confirmed that after a year and a half of development, the project is now entering the execution phase.

*This content is not intended as financial advice.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Hut 8 Reports Significant Energy Capacity Developments

Hut 8 reported substantial energy capacity developments, including 1,330 MW under construction and 3,180 MW entering exclusivity.

Ayman Ben Youssef30 minutes ago

Hut 8 Fully Commercializes Beacon Point AI Campus

Hut 8 has fully commercialized its Beacon Point AI campus with a second 352 MW lease, significantly increasing its AI datacentre portfolio's contract value.

Tando Nkube30 minutes ago

Riot Platforms Reports Third-Quarter Revenue and Mining Performance

Riot Platforms reported a slight increase in third-quarter revenue of $181.4 million, with Bitcoin mining contributing $116 million, reflecting a decline due to lower average realized Bitcoin prices.

Nguyen Van Longan hour ago

Riot Platforms Sells 20,264 BTC to Fund Datacentre Development

Riot Platforms has sold 20,264 Bitcoin to raise approximately $15 billion for datacentre development, marking a shift in its business model towards long-term contracted revenues.

Kofi Adjemanan hour ago

US Treasury Acts Against MEXC Global for Illegal Transactions.

The US Treasury's FinCEN has issued a measure prohibiting US financial institutions from processing transfers involving MEXC Global due to $16 billion in illicit transactions linked to sanctions evasion and cybercrime.