Japan’s largest bank Mitsubishi UFJ Financial Group (MUFG) has taken action to issue stablecoins globally.
According to a report by Bloomberg Mitsubishi UFJ Financial Group It is preparing to issue a stablecoin that will operate globally. From company executives Tatsuya Saito In a recent statement by with popular stablecoin issuing companies that negotiations have begun.
MUFG is already ready to issue stablecoins. progmat It has a blockchain platform. Saito, overseas And local Stating that talks with stablecoin issuers are continuing, Japan has a stablecoin hub He suggested that it would become:
Issuers and users can feel safe using stablecoins. Our bank is discussing stablecoin projects with entertainment firms, other non-financial businesses, and a group of Japanese financial institutions. At this point, we plan to produce stablecoins not only in the Japanese yen, but also in dollars and other fiat currencies. Requests are coming in from overseas financial groups. We can make Japan the hub of stablecoin issuance.
The bank’s statement recently US Federal Reserve (FED) President Jeremy Powell’sStablecoins are moneyIt did not go unnoticed that he came after the words ”. However, Japan has passed the stablecoin law. on June 1 put into effect and paved the way for the legal process in particular.