“Binance plans to launch stablecoins pegged to the dollar, euro, and yen in partnership with Mitsubishi UFJ Financial Group in Japan. Leveraging MUFG’s blockchain platform, this initiative aims to launch in 2022, expanding existing crypto trading and payment services. Future offerings could also be introduced subject to regulatory approvals.”
Search Results for: Mitsubishi UFJ Financial Group
Japan’s Stablecoin Law: Opportunities, Challenges, and the Future of Crypto
Japan’s largest bank, Mitsubishi UFJ Financial Group (MUFG), is engaging in discussions with global stablecoin issuers to mint tokens on its Progmat blockchain platform, following Japan’s new stablecoin law. MUFG’s VP of Product, Tatsuya Saito, emphasized the importance of stablecoins in providing reliable assets for investors during volatile trades and how Japan could potentially become a hub for stablecoin issuance.
Japan’s MUFG Unveils Progmat Coin: A New Era for Bank-Backed Stablecoins & Cross-Chain Solutions
Japan’s MUFG unveils Progmat Coin, a stablecoin issuance platform supporting local bank-backed stablecoins on multiple public blockchains. The platform aims to provide a universal digital asset payment method for stablecoins, cryptocurrencies, and a Japanese CBDC while addressing potential security concerns.
Japanese Banks Embrace Yen-Pegged Stablecoins: Analyzing Opportunities and Challenges
MUFG’s Progmat Coin platform enables Japanese banks to launch Yen-pegged stablecoins on multiple public blockchains such as Ethereum, Polygon, Avalanche, and Cosmos. As new regulations take effect, banks are exploring or launching stablecoins, potentially advancing mainstream crypto asset acceptance.