Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG) concluded a business and capital alliance agreement with iRidge, Inc. (TSE Mothers: 3917; HQ: Tokyo; CEO: Kentaro Oda; iRidge) in May 2018. As the largest external shareholder, DG will collaborate with iRidge's Fintech subsidiary to cooperatively implement business in the regional digital currency field.
DG developed DG Lab DVEP (Digital Value Exchange Platform)™, an all-purpose payment service framework for creating unique cryptocurrency through the use of Blockchain in Bitcoin in 2017, and has partnered with iRidge in the Blockchain business. As a first step for experiments, DG Lab DVEP contributed to "Sarubobo Coin," a regional cryptocurrency currently in development with Hidashin Association and iRidge. Going forward, DG plans to develop solutions and implement businesses combining regional currency (which is expanding across the country via iRidge's regional digital currency business subsidiary) and DG Lab's Blockchain technology.
VeriTrans Inc. (HQ: Tokyo; Representative Director and President: Hiroshi Shino; VeriTrans) and ECONTEXT, INC. (HQ: Tokyo; Representative Director and President: Keizo Odori; econtext) are DG subsidiaries in the payment business. As leading companies in the payment service industry, they have rapidly been adapting to environmental changes in the Fintech field. Payment methods keep growing in number, including smartphones and QR payments, and it is expected that cashless payments will swiftly come into popular use. Based on this, DG is collaborating with iRidge's Fintech subsidiary to offer an regional digital currency payment solution as one type of in-store payment solution.
The DG Group will further step up its collaboration with financial institutions, local governments, electronic money business operators, point business operators, and payment solution vendors, accelerating the development of businesses in the DG Lab's Blockchain field and expansion of services in the in-store payment domain.
【Reference URL: Release from iRidge】
【About DG Lab】https://www.dglab.com/en/
An open innovation R&D organization jointly established by DG, Kakaku.com, Inc. (TSE first section: 2371, HQ: Tokyo; President and Representative Director: Shonosuke Hata) and Credit Saison Co., Ltd. (TSE first section: 8253; HQ: Tokyo; President and CEO: Hiroshi Rinno).
A payment provider that carries out online payment initiatives for the Digital Garage Group. Recently VeriTrans has also provided offline payment services, including the use of Mobile POS and mobile barcodes. As a leader in the payment services industry, which has now grown into a basic social infrastructure, VeriTrans will work with DG Group member econtext to offer advice to government institutions and the credit card industry, along with speedy service that meets the needs generated by trends in business and policy. Such efforts will support expansion of convenient solutions, along with a safe and secure environment, as required by EC businesses and consumers.
A payment provider that handles online payment initiatives within the Digital Garage Group. Through the efforts of econtext and VeriTrans, another company beneath the DG umbrella, the DG group has become one of Japan's largest online payment providers and is now expanding into a global online payment platform covering not only Japan, but overseas markets as well, with a particular focus on Asia. econtext has also been a pioneer in the use of convenience store kiosks for realistic payment settlement, operating the wire transfer service CASH POST and other efforts in the field of financial transfers.