A new stablecoin for the travel industry has been created. Kintetsu Shimakaze Coin will be the fruit of cooperation Mitsubishi Research Institute with a Japanese rail carrier Kintetsu. The project has a test character.
Kintetsu Shimakaze Coin supports the tourism industry
This time it will be launched stablecoin named Kintetsu Shimakaze Coin, whose trial premiere took place on November 11.
It will initially be issued in test form for only three months. Kintetsu Shimakaze Coin is created for selected regions of Japan, and here we are talking primarily about tourist areas, with access to the sea, mainly Mie Prefecture.
Although stablecoin will only be launched for a limited time, it cannot be permanently changed.
How it works?
To get access to the new cryptocurrency, you will need to download a specially designed application in which a user account is then created.
The account can be topped up in yen and the maximum top-up amount will be 200 thousand.
The application will provide users with mutual exchange token.
However, the funds must be used until the end of the trial period, i.e. until January 31 of the year 2020 - otherwise they will be lost.
The idea of creating a new coin boils down to making it easier for tourists to carry out transactions during their stay in a given region.
Headquartered in Osaka, Kintetsu is a Japanese transport company associated primarily with railways. It is listed on the Tokyo Stock Exchange as the owner of numerous transport-related assets.
Stablecoins have recently been of interest to Kintetsu. In order to create them and then introduce them to the market, the company established cooperation with the Mitsubishi Research Institute.