ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

SBI Testing A Crypto Token For Retail Payments




This could be a baby step toward the first cashless society.

The Japan-based financial services company SBI Group has been very active in the cryptosphere as of late. Quickly becoming a leader in the area of cryptocurrency settlements and transactions, SBI offers a wide array of financial products, including some designed to ease the transmission of money to and from countries where banking services are either severely lacking or even nonexistent.

The company is now making strides toward a cashless society by developing a "settlement coin" intended to allow consumers to purchase goods and services via an application on their smartphone.

According to a September 24 press release, SBI's investment branch has launched a proof of concept for its settlement token dubbed the "S Coin." The S Coin is intended to allow settlements to be completed through an app on the user's smartphone. The new digital token was reportedly developed using the Orb blockchain platform. According to its website, Orb is a "transaction platform where data is synchronized and shared to multiple nodes."

SBI's announcement states that the initial trial will only be open to employees of SBI Group. During the trial, participants will be able to use machines made by automatic cash device manufacturer Glory. These machines will reportedly be linked directly to the S Coin platform. Participants in the trial will use these machines to buy S Coin and put them on a "credit card." Once loaded onto the card, the S Coin will then be transferred to a digital wallet that is accessible through an application on the user's smartphone.

During the trial, employees of SBI will be able to spend their S Coin at local restaurants and bars surrounding the SBI headquarters in Tokyo.

The press release also indicated that the three companies are looking to "create a cashless society by offering various settlement infrastructure[s]" and are adapting to the "changes in users' payment devices and technological innovation accompanying the spread of smartphones in recent years."

Additionally, according to an article in Forbes, the money transfer arm of SBI Group announced it intends to use the digital token BitPesa to offer financial services to companies in Africa, in an effort to "help jump-start African commerce with Japan on a larger scale by adding a much-needed layer of trust and transparency."

In June of this year, it was also reported that SBI had announced the launch of a crypto-trading platform called VCTRADE, which made it the first bank in Japan to create a cryptocurrency exchange.

Nathan Graham

Nathan Graham lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest S Coin, SBI or other Ethereum cryptocurrencies and tokens news.