AUSTIN, TX, Apr 13, 2023 - (ACN Newswire) - A Business Agreement was mutually signed by CIPHER CORE, Co., Ltd. a Japanese Corporation ("CC"), 100% a subsidiary of CIPHER-CORE, Inc. US publicly held company (OTC PINK:CFCI) and Prabhu Bank Ltd.(PBL) a Nepalese leading banking and financial service group located in Nepal which has a Class A Financial Institution license and regulated by the Central Bank of Nepal.
Whereas CC will provide its Overseas Remittance Service in Japan using CC's software, "CIPHER REMIT" previously called "COMPASS" providing convenience, safety, quickness and drastically less expensive, enabling the customers to transfer their money through Smart-Phone without visiting the bank, wallet to wallet.
Whereby Prabhu Bank Ltd. (Merged with Century Commercial Bank) will be designated as a receiving company or an intermediary delivery company to deliver the Transfer Amount to the beneficiaries in the Territory. It is said that as of today 100,000 Nepalese are working in Japan who are monthly transferring their earned money of 100,000 yen in average (about US$ 770 equivalent) to Nepal.
Mr. Takstoshi Nakamura CEO/President of CIPHER-CORE, Inc. said that CC's ultimate goal is to have Central Bank of Nepal evaluate the value of CC'S software called "CIPHER CASH PLATFORM" for its Central Bank Digital Currency program.
Invited to Katmandu, Nepal, Mr. T. Nakamura lectured to major officers and executives of Central Bank on software of "CIPHER CASH PLATFORM" how it works more appropriately to their CBDC project saying that the ledger systems currently used for the above two online settlement methods is not only time consuming but already reaching its limits to perform accurately the current batch & offset processing without error.
We will provide correct and effective solutions to use "digital cash" without using the ledger system in various financial fields using "complete cipher" that protects even Quantum computer attacks.
Mr. Nakamura's lecture was highly accepted and was invited to join the Work Shop.
SOURCE: CIPHER-CORE, Inc.
Topic: Press release summary
Source: CIPHER-CORE, Inc
Sectors: Crypto, Exchange, Blockchain Technology
From the Asia Corporate News Network
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