MUFG is working on a new overseas project to become a “global hub for stablecoin issuance”
Sponsored
Sponsored
MUFG to issue overseas stablecoins Mitsubishi UFJ Financial Group (MUFG) is in talks with overseas operators to issue major stablecoins distributed overseas, it was learned on the 23rd. The plan is to utilize Progmat, a platform for issuing and managing various digital assets developed by the group. Tatsuya Saito, product manager of Mitsubishi UFJ Trust and Banking’s Digital Asset Business Office, told Bloomberg that MUFG is in the process of coordinating with external partners to issue stablecoins for the global market. No specific partners have been disclosed. A stablecoin is a digital currency that utilizes blockchain technology, and is characterized
As interest in Bitcoin (BTC) and cryptocurrencies continues to grow, one analyst has claimed that stablecoins are a more affordable currency than BTC. Lee Hardman, an analyst at Mitsubishi UFJ Financial Group (MUFG), one of Japan’s three largest banks, said that stablecoins are a more suitable currency than Bitcoin. In…
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…
MUFG Bank, the financial giant of Japan, leads the way with the tokenization of Osaka’s high-rise building. By doing this, the company aims to make waves in the world of digital assets. MUFG Bank is going ahead in collaboration with Kenedix, a real estate firm, and Progmat, a blockchain platform.…