PassPay Co., Ltd., a digital payments company based in Minato-ku, Tokyo, led by CEO Yoshikatsu Kitano, has announced an alliance with blockchain technology companies EOS Network Foundation and EOS Labs. The collaboration will focus on applying blockchain technology to digital payments.
Strategic Objectives of the Alliance
PassPay, EOS Network Foundation, and EOS Labs will work together on research and development focused on blockchain applications in the financial sector. The partnership has four main objectives:
Integration of EOS Network with PassPayWallet: The alliance will integrate the EOS Network into PassPayWallet. The network’s performance and minimal gas fees are intended to improve the user experience.
Innovation in Blockchain: The collaboration will use EOS’s blockchain technology to improve the transparency and efficiency of PassPay’s payment systems. It also aims to establish new standards for secure and efficient transactions.
Token-Based New Services: PassPay and EOS will develop financial services and tokens based on EOS blockchain technology. These services will create new options for digital transactions.
Enhanced Security: The integration of EOS blockchain technology’s latest security features will strengthen transaction security and provide users with a secure environment.
PassPayWallet’s Remarkable Growth and Future Plans
PassPayWallet has gained attention in the cryptocurrency industry, recording over 1300 downloads within six months and maintaining a growth rate of 200 downloads per month. The company plans to add support for more networks.
PassPayWallet also aims to add stablecoin payment functions. This would allow users to transact in a currency with a more stable value.
PassPayWallet is more than a wallet app. The introduction of stablecoin JPYW and the development of a wallet for managing digital assets, including stablecoins, address challenges facing cryptocurrency use in everyday transactions. PassPay and EOS Network also plan to integrate JPYW into the EOS blockchain.
Yves La Rose, Founder and CEO of EOS Network Foundation, expressed, “Our collaboration with PassPay to introduce JPYW on the EOS blockchain fills us with great enthusiasm. This move is set to broaden the horizons of the EOS Network, offering fresh applications and bringing the transformative capabilities of blockchain technology to a wider audience in Japan. Working together with PassPay, we’re poised to propel the integration of blockchain into the fintech sector and establish pioneering benchmarks for the industry.”
Transforming the Financial Landscape
PassPay, EOS Network Foundation, and EOS Labs aim to expand blockchain’s use in the fintech sector. Their collaboration will focus on financial services and transactions that are secure and efficient.
Yoshikatsu Kitano, CEO of PassPay Co., Ltd., expressed confidence by stating, “Our new partnership with EOS represents a significant step in maximizing the potential of blockchain, and we are confident that PassPay is entering a new stage in digital payments. We look forward to providing our customers with even more secure and efficient services.”
EOS Network Foundation supports and promotes EOS blockchain technology and its ecosystem. Its core activities include developer education, community support, funding research, and strengthening EOS’s technological foundation. These efforts aim to maximize the potential of blockchain for a sustainable digital future.
PassPay aims to overcome the “three walls” that hinder cryptocurrency use in everyday life. The company issued the Japanese Yen stablecoin “JPYW” to address price volatility and the underutilization of cryptocurrencies’ borderless nature.
In addition to stablecoins, PassPay Wallet supports the management of various cryptocurrencies and NFTs on the blockchain. The company is focused on expanding JPYW’s use cases and developing applications that connect people with digital life.
The alliance between PassPay and EOS Network Foundation will support the development of blockchain-based financial services and digital payments. It reflects both companies’ focus on technological innovation and broader blockchain adoption.
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