Ishikawa Prefecture implements local digital currency "Tochituka"
Hokkoku Financial Holdings and its group company The Hokkoku Bank have started offering "Ishikawa Tochipo" points issued by Ishikawa Prefecture using the digital local currency service "Tochituka," which is jointly provided with Digital Platformer.
"Ishikawa Tochipo" will be introduced as part of the utilization of Ishikawa Prefecture's wide-area data collaboration platform, aimed at revitalizing the local economy and community. The awarded "Ishikawa Tochipo" points can be used at a rate of 1 Tochipo = 1 yen at over 2,000 Tochituka member stores throughout Ishikawa Prefecture.
Overview of "Ishikawa Tochipo"
- Name: Ishikawa Tochipo (Ishikawa Prefecture's Tochipo)
- Nature: Points (1 Tochipo = 1 yen)
- Issuing Entity: Issued by Ishikawa Prefecture and awarded to users
- Users: Those who have My Number Cards
- Usage Method: Payment at Tochituka member stores (Can be combined with Tochika payments)
- Exchangeability: Not convertible to cash
Overview of Tochituka
"Tochituka" is a cashless payment service that allows shopping at Tochituka member stores throughout Ishikawa Prefecture with just a smartphone by downloading the app. The digital local currency app "Tochituka" received the 2024 Good Design Award.
Tochituka offers three types of payment methods:
- Tochika
- A deposit-based stablecoin that can be used at a rate of 1 Tochika = 1 yen
- Can be charged from registered financial institution deposit accounts
- Tochipo
- Points issued by local governments that can be used at a rate of 1 Tochipo = 1 yen
- Currently includes "Ishikawa Tochipo" and "Suzu Tochipo"
- Tochituka Points
- Points issued by Hokuriku Bank that can be used at a rate of 1 Tochituka Point = 1 yen
- Awarded when certain conditions are met during campaigns
Tochika and Tochituka Points can be used at all Tochituka member stores (over 2,000 locations) regardless of where users live. Tochipo can be used at Tochituka member stores within the issuing municipality.
Future Development in Ishikawa Prefecture
Following the launch of "Ishikawa Tochipo," which can be used throughout Ishikawa Prefecture, they will continue to strengthen partnerships with local municipalities and promote the introduction of Tochipo to improve the efficiency and convenience of municipal point programs.
Future Development outside Ishikawa Prefecture
Hokkoku Financial Holdings believes that the use of deposit-based stablecoins by local financial institutions is essential for revitalizing regional economies, promoting cashless payments, and providing new financial services to customers in other regions as well. As the first user of Digital Platformer's blockchain-based new payment infrastructure, Hokkoku Financial Holdings aims to cooperate with other financial institutions to create a convenient cashless environment where services can be used interchangeably across regions nationwide.
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