PassPay Teams With EOS Network Foundation to Develop Innovative Financial Services Solutions

Summary:
• PassPay, the Japanese Startup focusing on financial services, will work with EOS Network on multiple R&D projects, including token issuance.

Tokyo-based digital payments solutions provider, PassPay Co., Ltd, has formed a strategic partnership with EOS Network Foundation and EOS labs centered on blockchain technology. The partners will work together to develop blockchain-based solutions for financial services and also develop new services based on blockchain and financial industries.

A new dawn for PassPay , Powered by EOS

PassPay and EOS will conduct joint research and development, with the aim of creating innovative uses of blockchain in the financial industry. The alliance will see a number of integrations and changes in the services offered by both companies. First, the EOS network will integrate PassPay Wallet, enabling users to experience the best of services in the two ecosystems.

Secondly, driven by innovation, PassPay will leverage EOS Network’s speed, low gas fees and high throughput to give PassPay Wallet holders the best blockchain-based financial services experience. Thirdly, the partnership will also see PassPay and EOS leverage their respective strengths to develop new products and services, including minting of tokens based on EOS’s blockchain technology.

Finally, security is the backbone of any financial service platform. With that in mind, PayPass intends to take advantage of the new partnership to enhance the security of its various offerings, using EOS Network’s blockchain technology. PassPay wallet currently supports not only cryptocurrencies, but also NFTs, making security critical to its expansion plans.

The partnership will help PassPay expand its reach, building on the success realized over the last six months. The app has already been downloaded over 1300 times and records an average of 200 downloads each month without any affiliation to a major blockchain network. Therefore, the partnership with EOS is a major boost for the company as it plans to roll out new services, including support for stablecoin payment solutions. Notably, the company has issued JPYW, the stablecoin pegged to the Japanese yen.