As a result, cross-border payments remain expensive for customers, who also face numerous pain points (e.g., lack of transparency and tracking, slow processing times)." — – McKinsey & Company Mizuho is among few exceptions, having started multiple blockchain projects that could prove revolutionary to their business model. Yesterday's announcement marks Mizuho's third blockchain project announcement in less than a month. Last Month, Mizuho Financial Group announced two blockchain projects. One was to develop a blockchain solution for secure record-keeping, and the other was a collaboration to use Microsoft Azure Blockchain as a Service for the company's syndicated loan business – in collaboration with Information Services International-Dentsu (ISID) and CurrencyPort. In addition, the Bank is also part of SWIFT's global payments innovation initiative to improve the customer experience in correspondent banking, by increasing the speed, transparency and predictability of cross-border payments.