According to the news of Nikkei Asia, Mitsui & Co., a Japanese trading company listed on the Tokyo stock exchange. indexed to gold prices. cryptocurrency Preparing to remove the unit.
To be released by Mitsui your token First Name ZipangCoin (ZPG) The price of the token will be fixed to the price of gold in yen sold on the London Metal Exchange. It was stated that one ZPG would be equivalent to one gram of gold.
ZPG’s Japan The first cryptocurrency tied to gold It is known that there are other examples in the world. Fixed to the price of gold, ZPG will be more of a stablecoin.
A Private Blockchain Will Be Used
ZPG will initially be sold through Mitsui’s own exchange. The exchange in question is licensed by the Japan Financial Services Agency.
It was stated that the company aims to make ZPG a payment tool using a smartphone application and other digital systems.
It was stated that ZPG will not run on networks such as Bitcoin and Ethereum, but on a private blockchain.
The Mitsui group is part of a consortium of over 70 Japanese banks and industry leaders that is also working to issue bank deposit-backed digital yen in Japan.