One of Japan's Largest Banks is Downplaying its Rumored Digital Currency Plans
Is a major Japanese financial institution developing its own digital currency? First asserted in a report by The Asahi Shimbun in February, a number of reports are now speculating that Bank of Tokyo-Mitsubishi UFJ (MUFG), one of Japan’s largest banks by total assets, is working on its own digital currency, named MUFG coin. As reported by The Asahi Shimbun today, MUFG coin is expected to become available in late 2017, a release that would allow users to withdraw digital currency from its ATM network onto a mobile device. The news source wrote: "Under the planned system, users can....
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This story points out how digital currency and cryptocurrency are not the same. It has been coming for quite some time now, but Japan is poised to be one of the first few countries issuing their own digital currency. With the Bitcoin value soaring as of late, the Bank of Tokyo-Mitsubishi will launch the currency as soon as Q3 2017. For several weeks now, there have been rumors circulating about Japan planning to legitimize Bitcoin as a currency in the country. It comes as no surprise to find out the country’s largest banks has initiated their plan to roll out a national digital currency....
Despite its relatively low adoption in the US, XRP has continued to enjoy widespread adoption overseas in countries like Japan, Singapore, and others looking to incorporate cryptocurrencies into their economy. This time, France is rumored to be the latest country to have taken an interest in the token, per rumored reports. France Could Adopt XRP […]
Over the past year, Japan has been laser focused on digital currency and blockchain solutions. Moreover, the country has recently become the second largest Bitcoin trading region in the world. Now one of Japan’s largest IT conglomerates plans on entering the Bitcoin industry with a new wallet and exchange service. Japanese Internet Giant Goes Big On....
Japan will soon have new regulations governing the Bitcoin industry as the Japanese parliament. Diet, the country’s bicameral legislature, approved a bill on regulation of virtual currency exchanges. The bill calls for a revision of the existing fund settlement laws originally designed for fiat currencies to accommodate Bitcoin and other digital currencies. By doing so, the government intends to offer better protection to digital currency users in the country. Japan has been in the forefront of the digital currency evolution. It is worth remembering that the world’s largest Bitcoin....
GMO has a very wide reach in Japan, as they are the largest credit card payment processor to date. Japan continues to make significant strides in the Bitcoin department. With the trading volume on the rise recently, it becomes more important for users to have access to a proper Bitcoin wallet. GMO, one of Japan’s largest internet companies, is launching their own cryptocurrency wallet service. This is a major validation of Bitcoin as a currency, and heralds bigger and better things to come for cryptocurrency in Japan.. Up until this point, Japan has been somewhat quiet on the Bitcoin....