In brief:
Mizuho Financial Group has announced that it will sponsor Neutrino, Japan’s first blockchain coworking space instituted by Ethereum-based startup Omise Japan.

Mizuho Financial Group on May 18 revealed its plan to invest in Neutrino, Japan’s first blockchain coworking space instituted by Ethereum-based startup Omise Japan. Mizuho, one of the 3 megabanks of Japan, will also be a ‘long-term tenant’ of the coworking space.

The bank on the website stated, “In addition to sponsoring Neutrino, Mizuho will be a long-term tenant of the coworking space, and we look forward to finding applications for blockchain technology and being able to develop new business areas together with the wide variety of sponsors, members, and other specialists Neutrino plans to attract.”

In March 2018, Omise established Neutrino which aims to promote blockchain ecosystem in Japan. In 2017, the company closed a USD $25 million ICO in new financing to build up Omise Go which will be OMG (an ERC20 token cryptocurrency) powered decentralized payments platform. Vitalik Buterin, Ethereum co-founder is among the advisors of the Thai-based startup Omise.

The collaboration intends to explore and set up operational implementations of blockchain technology and cryptocurrency in businesses and services.

Neutrino’s website states, “Started by OmiseGO, Neutrino is building a thriving community by connecting entrepreneurs, businesses, regulators, and cryptocurrency thought leaders together through series of regularly organized events, workshops, and meetups.”

Mizuho believes that by “simplifying and optimizing” the business operations, the decentralized blockchain technology will transform the industries. Mizuho expects the collaboration “will bring us one step closer to developing commercial applications for blockchain technology.”

By employing the technology, the financial group intends to deliver improved financial services to its customers.

In the past, Mizuho in a three-month trial with IBM Japan tested its own virtual currency. Moreover, the megabank keeps exploring and developing various blockchain applications in cross-border securities transactions, record keeping, trade finance with tech partner IBM, and document sharing. Besides, the group has also invested in Japan’s largest cryptocurrency exchange bitFlyer.

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