<ul><li>MUTB and Binance Japan have collaborated to issue a new stablecoin, bridging the Japanese Yen and USD using the &#34;Progmat Coin&#34; platform.</li><li>Japan eyes stablecoin growth post-2024, enhancing financial services and aligning with Web3 policy.</li><li>Binance Japan has launched 34 crypto assets, with a focus on yen-based stablecoins.</li></ul>As per recent <a href="https://coinpost.jp/?p&#61;483481" rel="noopener noreferrer nofollow">reports</a>, Mitsubishi UFJ Trust and Banking (MUTB), a subsidiary of Japan&#39;s largest financial institution, Mitsubishi UFJ Financial Group, is partnering with Binance Japan to explore the creation of new stablecoins, including the Japanese yen and US dollars, following Japan&#39;s recent introduction of stablecoin regulations. This announcement marks a significant stride in the world of cryptocurrency, promising to create a digital asset that bridges the gap between the Japanese yen (JPY) and other major global currencies like the US dollar (USD).The project will leverage the &#34;Progmat Coin&#34; platform, a stablecoin issuance and management platform designed to comply with Japanese regulations. This innovative venture aims to establish a stablecoin that will serve as the linchpin for Binance&#39;s expansion into both the global ecosystem and the Japanese market. The collaboration is currently in the preliminary study phase, with the ultimate goal of issuing a versatile stablecoin that caters to the needs of users across various currencies.The move towards a stablecoin linked to a legal tender, such as the yen and USD, is anticipated to gain traction in Japan post-2024, according to a <a href="https://www.nikkei.com/article/DGXZQOUB1939H0Z10C23A9000000/https://www.nikkei.com/article/DGXZQOUB1939H0Z10C23A9000000/" rel="noopener noreferrer nofollow">report</a> by the Nihon Keizai Shimbun. Mitsubishi UFJ Trust and Banking are actively considering issuing the certificate required for this endeavour.Read full article <a href="https://cryptotale.org/mitsubishi-ufj-considers-new-stablecoin-in-collaboration-with-binance-japan/" rel="noopener noreferrer nofollow">at CryptoTale.</a>

Mitsubishi UFJ Considers New Stablecoin in Collaboration with Binance Japan

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