Stablecoin

Saito

Bitcoin

Giant

Mitsubishi UFJ Financial Group (MUFG) is in talks with the companies behind popular global stablecoins about issuing stablecoins via the Japanese banking giant's blockchain platform. 
<h2 id="japanese-banking-giant-negotiates-to-issue-stablecoin">Japanese Banking Giant Negotiates to Issue Stablecoin</h2> 
<blockquote> 
 Japan's stablecoin law, one of the first among major economies, came into effect on June 1, and only the country's licensed banks, registered money transfer agents, and investment companies are allowed to issue tokens. 
</blockquote> 
Tatsuya Saito, the bank's VP of Product, said in an interview that MUFG is in talks with multiple parties to print foreign-currency stablecoins, including the US dollar, for use globally, using the blockchain platform Progmat. 
“Issuers and users can feel safe using stablecoins,” Saito said. He declined to specify which stablecoin parties MUFG is talking to. 
Related News: <a href="https://en.bitcoinsistemi.com/this-countrys-banking-giant-is-getting-ready-to-enter-the-stablecoin-sector/" target="_blank">This Country's Banking Giant Is Getting Ready To Enter The Stablecoin Sector!</a><a href="https://en.bitcoinsistemi.com/this-countrys-banking-giant-is-getting-ready-to-enter-the-stablecoin-sector/" target="_blank"> Stablecoins are an important part of the crypto industry, where investors often deposit funds between transactions involving more volatile tokens. They are intended to hold a fixed value, typically $1, and are often backed by reserves such as cash and bonds. As a result, regulators have stepped up their scrutiny of stablecoins. Japan's legislation encourages tokens that are fully backed by fiat cash in a matching currency. He added that the bank is discussing stablecoin projects with entertainment firms, other non-financial businesses and a group of Japanese financial institutions. Saito also noted that there are requests from overseas financial groups and that Japan could become a global hub for stablecoin issuance. *Not investment advice. </a>
<a href="https://en.bitcoinsistemi.com/this-countrys-banking-giant-is-getting-ready-to-enter-the-stablecoin-sector/" target="_blank">The post </a><a rel="nofollow" href="https://en.bitcoinsistemi.com/this-countrys-banking-giant-is-getting-ready-to-enter-the-stablecoin-sector/">This Country's Banking Giant Is Getting Ready To Enter The Stablecoin Sector!</a> appeared first on <a href="https://en.bitcoinsistemi.com">Bitcoin Sistemi</a>

This Country's Banking Giant Is Getting Ready To Enter The Stablecoin Sector!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Jun 23, 2023

Binance Submits New Petition to Court in SEC Case: What Happens If Admitted?

Decoding Ripple’s Legal Approach: Contrasting Binance’s Strategy in SEC Battle

What is soroosh smart push notification and what features and benefits does it have for the users?

'Black Swan' Author Wrong About Bitcoin, Says Analyst

Trade Like a Pro, Win Like a Boss: 3 Million MCRT Prize Pool on Bybit – Could Be Yours!

Dubai FinTech Summit concludes with 5,300 visitors; confirms second edition for May 2024

Join our free newsletter for daily crypto updates!