Japan’s Mitsubishi UFJ to issue yen-pegged stablecoin: report
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Japan’s largest bank, Mitsubishi UFJ Trust (MUFJ), plans to issue a yen-pegged stablecoin in 2023 for instant settlement of securities transactions, according to Nikkei Asia. Fast facts By…
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Japan’s largest banking groups are moving toward a shared yen-backed stablecoin framework, a development that could bring one of the world’s most heavily regulated financial systems deeper into tokenized payments. TL;DR MUFG, SMBC, and Mizuho are reportedly aligned around a joint yen-backed stablecoin initiative. The project is still at the…
Japan’s stablecoin story just moved out of the pilot lane and onto the highway. Logistics giant AZ-COM Maruwa Holdings, the company that carries the bulk of Amazon Japan’s last-mile deliveries, will begin paying its network of about 2,300 transport contractors and independent drivers in JPYC, the yen-pegged stablecoin issued by…