The largest credit card issuer in Japan, JCB, in partnership with the technology accelerator TECHFUND, has begun to develop a sustainable payment system on the blockchain, as reported by Cointelegraph.

JCB intends to take advantage of the experience of TECHFUND in organizing offers of securities on the blockchain (STO) and staking services. The Tokyo-based accelerator has launched the ACCEL BaaS (Blockchain as a Service) blockchain service, which aims to accelerate technology adoption.

“We plan to begin a joint study of the structure of the payment platform in order to contribute to the new project,” the press release said.

The document states that organizations plan to contribute to the improvement of society by improving the work of payment systems.

JCB payment system was founded in 1961. Currently, its cards are issued in more than 20 countries, and by the end of 2018, more than 130 million people made transactions worth almost $ 300 billion.

Recall that earlier JCB, along with other issuers of bank cards, became a member of the association, which aims to transfer the registry of bank transactions to the blockchain.