logo
Plus   Neg
Share
Email

Akamai, MUFG Announce JV; Plans Blockchain-based Online Payment System

Akamai Technologies, Inc. (AKAM) and Mitsubishi UFJ Financial Group (MUFG) announced an expansion of their relationship through the establishment of a joint venture, the Global Open Network, Inc. (GO-NET) and their plans to offer a new blockchain-based online payment network enabling next-generation transaction security, scale and responsiveness.

"This joint venture with MUFG sets the stage for a new blockchain-based online payment system that can better serve customers' and partners' payment processing needs," said Tom Leighton, CEO and co-founder of Akamai.

Both Akamai and MUFG will be investors in GO-NET, which is expected to make the new payment network available in Japan during the first half of 2020. GO-NET aims to provide a comprehensive set of services, including support for existing payment processing functions, pay-per-use, micropayments and other developing IoT-enabled payment transactions.

Separately, Akamai Technologies, Inc. (AKAM) announced that Ed McGowan, Senior Vice President of Finance, will succeed Jim Benson as Executive Vice President and Chief Financial Officer, effective March 1, 2019. Benson will serve as an Executive Advisor through an extended transition period.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The CEO of German engineering giant Siemens AG criticized U.S. President Donald Trump as becoming the "face of racism and exclusion" following his alleged racist comments targeting four progressive Democratic Congresswomen recently. "It depresses me that the most important political office of the world will be the face of racism and exclusion," Joe Kaeser said in a Twitter post in German. Volvo Cars issued a recall for 507,000 vehicles worldwide, citing a risk of fire due to a faulty engine component. The Swedish automaker reportedly said it has received reports of a small number of cars catching fire, but no one has been injured. The recall could affect certain vehicles produced during the period from 2014 to 2019 and having two-liter, four-cylinder diesel engines. Auction house Sotheby's said on the 50th anniversary of the Apollo 11 lunar landing, it has auctioned the three original videotape recordings depicting the event for $1.82 million in New York. The price is more than 8,000 times the price paid for the tapes by then-NASA intern Gary George at a government surplus auction in 1976. Apollo 11 was the spaceflight that first landed humans on the moon.
Follow RTT