Japan Communications Inc. (JCI) agreed today with Taisys Technologies Co., Ltd. (headquarterd in Taipei, Taiwan, CEO: Jason Ho, hereafter “Taisys”) on strategic partnership in developing and delivering Cold Wallet for cryptocurrency to smartphones.
In designing FPoS (Fintech Platform over SIM), JCI adopted subSIM provided by Taisys, the patent holder and the leading maker of overlay SIM. FPoS has been already succeeded in Experiment by FSA’s (Financial Service Agency, Japanese Government Authority of Financial Industry) FinTech Experiment Hub and it is now underway to commercial service launch. (Refer to FSA’s announcement on January 24, 2019, and JCI’s announcement on the same day regarding the successful results on FPoS experiment.)
FPoS will bring security of internet banking to the level never been achieved before without compromising the ease of use. Use of subSIM makes FPoS possible to be applied to variety of applications.
One application requested by the market is Cold Wallet, which is expected to be mandated by the government to secure the customer asset of cryptocurrency. This is in line with Japanese Government and FSA’s promotion of cryptocurrency by establishing regulatory environment.
According to the Japanese regulatory environmental changes, JCI and Taisys will develop and deliver “my Cold Wallet” with world’s highest security by a) Strict KYC process defined by and compliant with Digital Signature Act, b) Strong authentication of the user as has been proved by FSA Experiment Project, and c) cold wallet function secured by IC card in the form of overlay SIM.
JCI and Taisys intends to make “my Cold Wallet” as de facto standard in Japan, but also to bring it outside of Japan to the global market. JCI continues to contribute in realizing the vision held by Ministry of Finance, “Bringing FinTech Innovation nurtured in Japan to the overseas market.”
About Taisys Technologiesbr
Taisys Technologies is a world leader in providing mobile interconnectivity and vertical integration solutions to various industries. Our solutions enable telecom, financial institutions and government organizations to extend innovative mobile services in a secure and convenient manner. Established in 2005 and headquartered in Taipei, Taisys has built solutions based on its patented core technology SIMoME® (Thin SIM), which decouples value-added services from the main SIM, and empowers industry players the ability to deploy innovative services on the mobile equipment. Over 1,300 banking and 20 M(V)NO partners have deployed mobile-based value-added services enabled by Taisys’ technology and platform to 15 million end-users worldwide. To learn more, please visit www.taisys.com.
About Japan Communications Inc.
Japan Communications Inc. (JCI) was established on May 24, 1996 as the company to fulfill the objective of the Ministry of Communications and Internal Affairs (MIC) that next-generation Internet, driven by mobile communications, should form the foundation of Japan’s future economic growth. JCI’s business model later became to be called MVNO. In March 2009, JCI achieved interconnection with NTT docomo under MIC’s policies to liberalize the mobile market. This interconnection meant that consumers could purchase mobile connectivity (SIMs) from sources other than the mobile carriers for the first time and led to the creation of the “kakuyasu SIM” market. Now it is time for companies from all industries, not just cellular companies, to embed mobile connectivity in to their devices. As the MVNO pioneer and the world’s first mobile solutions enabler, we are using our strong technological vision and know-how in implementation to build the next generation platforms required to support the next phase of global economic growth, which will originate in Japan. Offices are located in Tokyo, Japan, Denver (Colorado) and Ponte Vedra (Florida) in the United States, and Dublin, Ireland. JCI is listed on the Tokyo Stock Exchange. (Securities Code: 9424). As JCI's Corporate governance policy, outside directors comprise the majority of the Board of Director and all outside directors are independent directors.
