Minna Bank and Slash Vision Sign Basic Agreement for Value Co-creation in Stablecoin Payment Solutions

Minna Bank, Ltd. (President and CEO: Kenichi Nagayoshi, hereinafter "Minna Bank") announces that it has signed a basic agreement for value co-creation in the web3 domain with SLASH VISION PTE. LTD. (Representative Director: Shinsuke Sato, hereinafter "Slash"), which provides stablecoin payment solutions.

Through this basic agreement, we aim to jointly create new solutions by integrating Minna Bank's BaaS (Banking as a Service) functions and banking license with Slash's advanced technology and UX on the blockchain, thereby solving the financial challenges of individuals and businesses utilizing web3.

Background of the Basic Agreement

In recent years, the use of dollar-denominated stablecoins has been expanding overseas. However, in Japan, an environment where anyone can easily use them is not yet in place, and many users are unable to fully enjoy their convenience, which is a challenge. To address this issue, we will accelerate the mass adoption of web3 by combining Slash's advanced technology in the stablecoin payment field with Minna Bank's highly reliable financial infrastructure cultivated through its BaaS business.

Overview of the Basic Agreement

In this partnership, first, we will enhance existing services by integrating banking functions, including Japanese yen deposits and withdrawals, into "Slash App," provided by Slash, through Minna Bank's BaaS platform.

Based on this foundation, we envision incorporating "on-ramp/off-ramp functions for Japanese Yen and USDC" in the future, utilizing the technologies and licenses of both companies, such as exchanging tokenized deposits and stablecoins. Furthermore, the solutions developed through this collaboration are not limited to "Slash App" but are also intended to be deployed to other businesses with similar needs.

* Vision Financial Services Co., Ltd., a group company of Slash, is preparing for registration as an electronic payment service provider.

Future Developments

First, both companies will proceed with the development of integrating banking functions into "Slash App." In parallel, with a view to deploying the solutions built through this collaboration to other businesses, we plan to seek partner companies for demonstration experiments (PoC) aimed at creating specific use cases and identifying challenges.

About Slash Vision Pte.

Representative:

Representative Director, Shinsuke Sato

Location:

18 Robinson Road, #20-02 18 Robinson Singapore 048547

Established:

July 2023

Business Activities:

Development of payment solutions using stablecoins

Company Website:

https://slash.vision/

[Contact for Inquiries from Media Regarding This Matter]

Minna Bank, Ltd. Public Relations: Imamura, Ichihara, Oka

TEL: 092-791-9231 E-mail: [email protected]