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Mobiii - A Mobile Banking App Designed to Accommodate Cryptocurrency Enthusiasts in Japan

Bank customers in Japan will soon be able to use a mobile banking app that is designed to accommodate cryptocurrency enthusiasts. The neo-bank, Mobiii, is set to launch operations in April 2024.

According to a report by CC Today, the banking app is being developed by a consortium of companies, including SBI Group, Credit Saison, and SOMPO Holdings. The aim of the app is to provide a seamless and user-friendly banking experience that caters to the unique needs of cryptocurrency traders and investors.

The consortium has already applied for a banking license from the Japanese authorities and is currently awaiting approval. Once approved, Mobiii plans to hit the market with a range of products and services, including checking and savings accounts, credit cards, and investment products.

The mobile banking app will also feature a cryptocurrency exchange integration, allowing users to buy, sell, and manage their digital assets directly within the app. This integration is expected to be a major selling point for Mobiii, as it will provide a convenient and secure platform for cryptocurrency trading.

In addition to cryptocurrency exchange integration, Mobiii plans to offer other unique features such as a points program that can be used to earn rewards for everyday spending. The app will also offer a variety of financial planning tools and advice to help users manage their money effectively.

The development of Mobiii is part of a broader trend in Japan to promote innovation in the financial services sector. The Japanese government has set a goal of becoming a leading global hub for fintech by 2025.

SBI Group, a major player in the Japanese financial services industry, is also known for its involvement in cryptocurrency. The company owns SBI Mining, a Bitcoin mining subsidiary, and SBI VC Trade, a cryptocurrency exchange.

The integration of cryptocurrency exchange services into Mobiii's mobile banking app is expected to provide a significant boost to the adoption of digital assets in Japan. This initiative highlights the increasing interest and investment in blockchain technology and cryptocurrency across various sectors in the country.