Frequently Asked Questions

A Layer 2 on its own cannot resolve the sovereignty problem Japanese regulated institutions face. For a bank considering whether to build on public blockchain infrastructure, the critical questions are: where are the servers, which jurisdiction's regulators can compel action, and who is accountable if something goes wrong?

A Layer 1 with all validator infrastructure onshore in Japan - operated by identified, accountable domestic entities - is the only architecture that can answer all three questions satisfactorily. That is why MIZUHIKI is a Layer 1.

MIZUHIKI is being developed by AltX Research K.K., a Japan-based technology company. From mainnet launch, MIZUHIKI will be governed by the Foundation for MIZUHIKI, a general incorporated association (ippan shadan houjin) registered in Japan with AltX Research continuing as the core technology contributor under a published contributor agreement.

The project is led by Russell Cummer, founder of Paidy, alongside a team with deep expertise in Japan's regulatory, financial, and digital infrastructure landscape, bringing extensive experience in building trusted technology platforms at scale.

No. MIZUHIKI is infrastructure, not an issuer. MIZUHIKI provides the settlement rail, compliance primitives, and issuer revenue-sharing mechanism that make JPY stablecoin issuance viable. We are engaged with financial institutions in Japan exploring stablecoin issuance on MIZUHIKI, and we welcome all regulated stablecoin projects to build on the network.