MUFG's Progmat Coin, with support from Mizuho, seeks to revolutionize settlements in Japan's payment ecosystem with lower costs and enhanced security amid rising stablecoin initiatives.
Despite the exit of popular digital exchanges from Japan, industry stakeholders argue that the country is setting the pace for healthy digital currency regulation in other nations globally.
MUFG revealed that it would collaborate with blockchain infrastructure providers TOKI and Datachain to create a bridge to facilitate cross-chain transactions between distributed ledgers.
The Mitsubishi UFJ Group announced the end of its Global Open Network, saying that it failed to live up to expectations with COVID-19 stunting its growth.
Mitsubishi UFJ Financial Group has announced that it intends to launch a blockchain-based payments system by 2020.
Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group had been working in partnership to develop a blockchain-powered system that would facilitate money transfers between users based on their mobile phone numbers.