SBI

Regional currency platform

Challenge
  • Decrease in the use of physical cash and coins
  • Current method in the distribution of welfare payments is costly and delayed
Solution
  • Each regional currency is backed 1:1 with JPY but local governments are subsidizing the regional currency and providing a premium (20%) to grow adoption and usage
  • Each regional currency can only be used within that local region
  • Enables real-time B2B, B2C and C2C transfers
  • Enables immediate distribution of welfare payments
Results
  • Reduced use of physical cash and coins
  • 30 regional digital currencies across 30 municipalities
  • Allows users to transact simply with QR codes