Jointly Promoting the  Digital Assets of Environmental Value and Digital Currency Settlement, with the Aim of Launching Service in July 2024

DeCurret DCP Inc. (HQ: Chiyoda-ku, Tokyo Japan, President and CEO: Satoshi Murabayashi; hereinafter "DeCurret DCP"), GMO Aozora Net Bank, Ltd. (HQ: Shibuya-ku, Tokyo; Chairman and Representative Director: Takehito Kaneko / President and Representative Director: Takeshi Yamane; hereinafter "GMO Aozora Net Bank") and Internet Initiative Japan Inc. (HQ: Chiyoda-ku, Tokyo; President and Representative Director: Eijiro Katsu; hereinafter "IIJ")  have agreed to, as the first commercial service utilizing the DCJPY Network (Two-tiered Digital Currency Platform) provided by DeCurret DCP,  jointly promote the digitalization of IIJ's transactions of environmental value (non-fossil certificates, etc.) into digital assets, and transactions and settlements in the digital currency DCJPY (tentative name) issued by GMO Aozora Net Bank, with a target start date of July 2024.

IIJ will join the Japan Electric Power Exchange (JEPX) as a non-fossil value trading member and begin offering a service to procure non-fossil certificates on behalf of the clients from October 2023. From July 2024, the service will utilize the DCJPY Network provided by DeCurret DCP to convert environmental values into digital tokens and start settlement using digital currency. Environmental value transactions will be managed on the blockchain, and GMO Aozora Net Bank will provide an efficient digital currency settlement service linked to the transactions.

<Funds flow on the network>

The digitization of environmental values using blockchain technology is attracting the attention of many companies working on carbon neutrality. Currently, environmental value transactions in Japan are generally handled by issuing analog certificates such as non-fossil certificates and managing transaction information in centralized systems, but the DCJPY Network enables the issuance (mint), transfer, etc. of environmental value as digital assets, with automated settlement through programmed transactions using digital currency and smart contracts. In the future, we will promote the distribution of a series of environmental value transactions on the blockchain with the participation of electricity retailers, power generation companies, and environmental value exchanges.

Unlike stablecoins, DeCurret DCP's DCJPY Network turns bank deposits into digital currency on the blockchain. Since DeCurret DCP is a licensed electronic payment service provider, user companies can transfer the digital currency DCJPY without obtaining or registering for any payment-related financial license. DCJPY is managed and stored at the bank and therefore can be used for large payments made between companies. Since the program can be implemented not only for environmental value tokens, but also for other areas such as NFTs and Security Tokens, it can support a wide range of blockchain-based businesses by providing services that meet the needs of each company or organization.

GMO Aozora Net Bank is strengthening its BaaS offering, which provides various banking functions as parts, including banking APIs, which currently is one of the largest lineups in Japan, based on its advanced technological capabilities, development capacity, and mobility. By providing BaaS to various partner companies, the bank aims to maximize the value of financial services and evolve the state of financial services in Japan. This initiative is also positioned as a new area of exploration in the BaaS business, and the bank has decided to issue DCJPY, the first* digital currency for commercial use.
*As of October 2023, according to DeCurret DCP.

Starting with this initiative by IIJ, DeCurret DCP and GMO Aozora Net Bank will support many companies and organizations to utilize blockchain technology. We will continue to be a catalyst for the promotion of a blockchain-based DX society and contribute to business in a wide range of industries and companies.

<Endorsement>

Seiichiro Hamada, Executive Officer, Deputy General Manager, Innovation Promotion Division, Kansai Electric Power Co.

Through the Digital Currency Forum, The Kansai Electric Power Co. is working to promote carbon neutrality through the use of digital currency. Digital currency (DCJPY) has great potential for trading environmental values, and the fact that this first social implementation is the settlement of non-fossil certificates at IIJ's data center is a major driving force for the future. We look forward to continuing to work with IIJ toward the realization of DX and GX using these technologies.

20231012_Jointly Promoting the  Digital Assets of Environmental Value and Digital Currency Settlement