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Hokkoku Bank's Game-Changing 'Tochika' Stablecoin: Deposit-Backed Innovation

Hokkoku Bank's Game-Changing 'Tochika' Stablecoin: Deposit-Backed Innovation
Hokkoku Bank's Game-Changing 'Tochika' Stablecoin: Deposit-Backed Innovation

Japan's Hokkoku Bank Launches Deposit-Backed 'Tochika' Stablecoin

Hokkoku Bank has made a significant breakthrough in the realm of digital finance by launching Tochika, the first stablecoin backed by bank deposits. This innovative move signals the bank's commitment to embracing Web3 technology and its potential for transforming financial services.

Origins and Collaborations

Tochika's roots lie in Hokkoku's successful partnership with Suzu City, which saw the launch of the "Tochituka" app in 2022. The app enables local residents to earn and spend "Tochipo" points, which can be exchanged for digital currency backed by bank reserves.

Hokkoku's Competitive Edge

Hokkoku has recognized the need to improve Japan's cash-based society by providing merchants with a competitive 0.5% fee for cashless transactions through the Tochituka app. This strategic move aims to

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