Japan Wants to Develop Cross-Border Cryptocurrency Payments Network

Japan is reportedly looking to create an international payment infrastructure for cryptocurrency transactions similar to SWIFT. The project appears to be part of the country’s push toward regularizing the crypto industry but this time, beyond its borders.

While details still remain unclear, there are indications that the Financial Action Task Force (FATF) is collaborating with Japanese authorities on the project.

The proposed plan also comes amid Facebook’s entry into the digital payment scene with its Libra project which commentators say could upset the balance of global finance.

FSA and FATF Working on Cross-Border Crypto Payments Network

According to Reuters, an anonymous says Japanese authorities are looking to create a cross-border network for cryptocurrency payments similar to SWIFT — the ones used by banks. While Japan appears to be front and center on the project, reports suggest the FATF is monitoring the development with a possible plan to get other major economies…