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Binance and Banking Giant MUFG Want to Drive Web3 Adoption in Japan by Issuing Stablecoins

Other jurisdictions like the European Union and even the U.K. have taken more stringent approaches to regulating stablecoins, particularly after one such cryptocurrency, terraUSD, rapidly lost parity with the U.S. dollar last year, leading to the collapse of not just the issuer but a string of other prominent players in

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Binance Japan and MUFG Trust Bank Forge Partnership for New Bank-Backed Stablecoin

This partnership is also a significant stride in the Japanese government’s endeavor to embrace blockchain technology and cryptocurrencies, fostering their broader adoption within the country and beyond. Binance Japan is partnering with Mitsubishi UFJ (MUFG) Trust Bank, a move squarely aligned with the Japanese government’s new Web3 policy. This collaboration aims

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MUFG may issue stablecoin via Progmat blockchain platform

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Mitsubishi UFJ Financial Group Inc., a prominent Japanese banking corporation, is currently in negotiations with several businesses about issuing stablecoins, a form of digital asset, through its blockchain platform Progmat. Japan’s banking giant, Mitsubishi UFJ Financial Group

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MUFG, Japan’s Largest Bank, to Issue Global Stablecoin via Progmat Blockchain

Since the regulatory issues have been covered and the law only permits trusted companies to issue the tokens, the move can help restore confidence in stablecoins and cryptocurrencies. Mitsubishi UFJ Financial Group (MUFG) is interested in using its Progmat blockchain platform for minting stablecoins and has been meeting with domestic and

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MUFG to facilitate Japanese bank-backed stablecoins via Progmat Coin platform

Megabank Mitsubishi UFJ Financial Group (MUFG) has announced that its stablecoin issuance platform “Progmat Coin” will soon be used by Japanese banks to launch Yen-pegged stablecoins on several public blockchains.Japanese banks have recently outlined intentions to either look into or launch stablecoins following new regulations that came into effect this

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MUFG drops blockchain payment project to focus on stablecoins

Japan’s biggest financial conglomerate, Mitsubishi UFJ Financial Group (MUFG), will abandon its three-year-old blockchain payment project to focus on other digital and fintech initiatives.MUFG officially announced Tuesday the suspension of Global Open Network (GO-Net) Japan, a blockchain-based project aiming at high scalability and multi-connectivity data processing “in response to the

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MUFG boosts its crypto exposure following $41M Zipmex funding round

Thailand's Bank of Ayudhya (BAY) – in which Mitsubishi UFJ Financial Group (MUFG) holds a 76.9% stake – participated in the latest funding round for the Asia-Pacific-focused crypto exchange Zipmex.The $41 million raise, which saw the participation of two publicly traded Thai media firms and overseas VC funds in addition to

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