Crypto News From Japan: Oct. 27-Nov. 2

Here is the past week of cryptocurrency and blockchain news in review, as originally reported by Cointelegraph Japan.

The Japanese Liberal Democratic League for Quantum Technology Promotion, which promotes quantum technology research and development, announced that it plans to formulate a quantum technology innovation strategy by the end of this year.

Ethereum co-founder Vitalik Buterin is not at all impressed by the perceived threat BTC faces from Google's quantum computer.

"My one-sentence impression of recent quantum supremacy stuff so far is that it is to real quantum computing what hydrogen bombs are to nuclear fusion. Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things."

Japanese crypto exchange Coincheck: Revenue 40% down, Registered users 6% up.

SBI Holdings partners with PayPay, releases financial report and expands into Europe.

Cointelegraph Japan reported on Oct. 30 that Japanese financial services giant SBI Holdings Inc. announced that its subsidiary MoneyTap formed a business alliance with the mobile pay service PayPay to develop a charge business using the MoneyTap application, which uses Ripple's distributed ledger technology.

SBI Holdings further released its latest financial report on Oct. 30, where its crypto-heavy venture capital arm, SBI Securities, showed a surge of 19% in its trading revenue during 2019, turning a $7.1 million loss into a $30 million profit over the year.

Similarly to previous reports, SBI continues to outline the growing importance of Ripple's technology in its remittance division, SBI Remit, as well as the development of Ripple's xCurrent-based remittances.

President of SBI Holdings Yoshitaka Kitao said during the financial report briefing that he would collaborate with European companies on security token offerings, adding that he is currently in discussions and that more news may come in the month of November.