Soramitsu develops digital currency cross-border payment projects with Southeast Asia and Japan

Odaily Planet Daily News Blockchain developer Soramitsu is involved in a new project aimed at enabling payments between Cambodia, other Southeast Asian countries, and Japan. Soramitsu is the developer of Cambodia’s Project Bakong, which aims to create a quasi-central bank digital currency. The new Mutsumi project will use Bakong and stablecoins to support Japanese SMEs in selling goods and digital services to customers in Southeast Asia through e-commerce. Digital transformation firm VIVIT will run the joint venture, which will also involve Tama University. It will use technology used in Cambodia to effectively create the "Bakong Economic Zone" that will enable Japanese SMEs to access large offshore markets, and is scheduled to launch by the end of 2024. (Ledger Insights)