Japanese Largest Shipper to Launch Stablecoin to Pay Sea Workers

Nippon Yusen Kaisha (NYK), a shipping and logistics company based in Japan, has announced plans to introduce a digital currency as a means of providing service payments to members of its crew, according to a Bloomberg report.

The company will float a stablecoin pegged to the dollar, although the details of how it would do so are sketchy at best, the company hopes to have it floated before the first quarter of 2019. The objective is for the company to process a patent for the technology before offering it to managers, owners and perhaps potential investors.

Beyond anything else, the ultimate objective of this launch will be a greater level of ease to the process through which sea workers manage their finances, send and convert money in their local currencies.

Reference: https://www.ccn.com/japanese-largest-shipper-to-launch-stablecoin-to-pay-sea-workers/

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