According to Coinpost, Mitsubishi UFJ Trust Bank announced that it will begin working with Binance Japan and Progmat to consider launching a new stablecoin that will not only be denominated in Japanese yen (JPY), but also denominated in foreign currencies such as the United States dollar (USD). Binance stated that according to Japanese regulations, stablecoin issuers are limited to banks, fund transfer companies, and trust companies. The threshold for issuing your own stablecoin is high, but the joint development with Mitsubishi UFJ Trust and banks allows us to overcome this. Mitsubishi UFJ Financial Group is Japan's largest financial institution.
Mitsubishi UFJ Trust Bank announces partnership with Binance Japan and Progmat to launch new stablecoin
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