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Japan’s Mizuho Financial Group plans to introduce a digital currency to be used for remittances and payments in March, English-language Asian media Nikkei reports Dec. 26.
According to the article, the fees that the retail shops will be required to pay for accepting the currency will be significantly lower than the fees charged for credit card usage. The transfer of funds back and forth between the digital wallet and the bank account will be reportedly free, as will be sending funds to other users.