Orb

Orb Inc. operates as a financial technology firm, providing middleware that enables businesses, local governments, and community organizations to establish their own proprietary digital currencies and payment systems. The company was founded in February 2014, originally as CoinPass Inc., with a focus on Bitcoin payment services for e-commerce. The firm was co-founded by Masaaki Nakatsu. An entrepreneur with a family history in business, Nakatsu developed an interest in monetary systems during university, which led him down the path of entrepreneurship rather than politics or academia.

In 2015, the company rebranded to Orb Inc. and shifted its focus to developing its own distributed ledger technology (DLT). A significant milestone was the 2017 release of "Orb DLT," a proprietary distributed ledger technology that utilizes a hybrid model, combining features of blockchain and distributed databases. This technology underpins the company's core offering. In 2020, Trustbank Inc., operator of the "Furusato Choice" tax payment website, became the largest shareholder, and Masahiro Okabe was appointed as the new Representative Director. By February 2018, co-founder Nakatsu had sold his shares and resigned as CEO, with the company's control being transferred to a new board, including representation from SBI Holdings.

Orb's business model is centered on providing its "Orb DLT" as a middleware solution, available to developers via APIs. This allows clients to build custom payment applications without developing the complex underlying ledger technology from scratch. The system is designed to handle the complexities of digital currency, ensuring accuracy, immediacy, tamper resistance, and scalability. Orb DLT supports the creation of multiple, distinct digital currencies on a single platform, each with unique behaviors such as bonus point issuance, time-limited sales, and conversions to other currencies. The company generates revenue by licensing this technology to its clients. Notable applications of Orb's technology include its adoption by Trustbank for its regional currency platform, "chiica," which is used by over 50 municipalities as of March 2024. Another major client is Machi no Wa, a joint venture of Kyushu Electric Power, Chikuhobank, and SBI Holdings, which uses Orb DLT for its electronic gift certificate solutions in dozens of regions.

Keywords: distributed ledger technology, DLT, digital currency platform, local currency, community currency, fintech middleware, payment systems, blockchain technology, proprietary payment solutions, regional economic revitalization, Chiica, Trustbank, Masaaki Nakatsu, Masahiro Okabe, SBI Holdings, custom currency, electronic money, payment API, digital wallet, cashless solutions, local government fintech, corporate digital currency