DeCurret – the firm working towards adding crypto as an accepted means of payment for public transportations across Japan – has reportedly disclosed news of its capital reallocations.
Specifically, DeCurret has revealed the details of a freshly issued batch of shares – equivalent to 2.75 billion yen (around $25 million) – via a 3rd-party restructure.
The capital is reportedly devoted to “enhance transaction services for existing virtual currencies”, along with boosting the adoption rate of cryptocurrencies and settlement services.
Despite the alarming state numerous administrative jurisdictions are in at the moment due to the current situation going on worldwide, the transportation network in Japan does not suffer from significant impact, with a slight decrease in trains and buses but stations remain fully functional.
DeCurret is reportedly conducting research to introduce a new crypto payment system, particularly to serve the East Japan Railway Company (JR East) – one key investing partner of the firm.
This new system will allow for crypto-based top-up for the Suica payment card developed by the railway firm.
The bills for crypto regulations – The Payment Services Act and Financial Instruments and Exchange Act, which have both been approved by the Japanese House of Representative in 2019 – will reportedly be in effect soon, beginning May 1st.