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Soramitsu develops digital currency cross border payments with Southeast Asia, Japan – Ledger Insights

Soramitsu develops digital currency cross border payments with Southeast Asia, Japan – Ledger Insights

Blockchain developer Soramitsu is involved in a new project to enable payments between Cambodia, other Southeast Asian countries and Japan. It was the developer behind Cambodia’s Project Bakong which created a quasi central bank digital currency (CBDC). The new Mutsumi project, which translates as friendly relations, will use Bakong and stablecoins to support Japanese SMEs in selling goods and digital services to Southeast Asian customers through e-commerce.Digital transformation company VIVIT will run the joint venture project with Tama University also involved. It will effectively create a “Bakong Economic Zone” using the technology used in Cambodia to enable Japanese SMEs to reach the large offshore market, aiming to launch… 

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