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Toyota To Launch Its Own Cryptocurrency

Isaac Goluboff

Summary: Major car manufacturer Toyota announced today that it would be piloting its own digital currency for use by employees in its IT division Toyota Systems. The car manufacturer will offer its new currency to 2,500 Toyota employees via blockchain-based Japanese crypto exchange DeCurrent, which will allow them to use their coins to purchase benefits and ...

Major car manufacturer Toyota announced today that it would be piloting its own digital currency for use by employees in its IT division Toyota Systems. The car manufacturer will offer its new currency to 2,500 Toyota employees via blockchain-based Japanese crypto exchange DeCurrent, which will allow them to use their coins to purchase benefits and gifts made available to them in a Toyota catalog. Notably, no fiat-to-crypto services will be available, preventing employees from cashing their coins in for Japanese yen.

The announcement of the pilot comes after Toyota's prior foray into the world of blockchain in March of this year, when it launched its Toyota Blockchain Lab.

By Isaac Goluboff

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