Report: Japan’s Largest Bank to Launch Digital Currency in 2017
According to a report, the Bank of Tokyo-Mitsubishi UFJ Ltd., Japan’s largest bank will soon become the world’s first global bank to issue its own digital currency. A new bank-issued virtual currency may be in the offing next year. Dubbed “MUFG coin”, short for the Mitsubishi UFJ Financial Group — the parent company of the Bank of Tokyo-Mitsubishi – the bank, will issue the virtual currency in the autumn of 2017, according to a report on The Asahi Shimbun, a prominent national newspaper in Japan. The publication cites sources who reveal that the virtual currency will help facilitate....
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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....
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....
Japan’s largest bank – Bank of Tokyo-Mitsubishi UFJ (MUFJ) – has announced that it is working to create its own virtual currency similar to Bitcoin in an effort to reduce expenses and establish a robust backend accounting and settlement system. According to unnamed bank officials, the virtual currency will be called “MUFG coin” after the Mitsubishi UFJ....
According to a recent report by CoinPost, MUTB, a subsidiary of Mitsubishi UFJ Financial Group, one of Japan’s largest financial institutions, in partnership with Binance Japan and Progmat, has announced the start of joint consideration for the development of a new stablecoin. Leveraging the Progmat Coin platform, compliant with Japanese regulations, the collaborative effort aims […]
Japanese banking giant Tokyo-Mitsubishi UFJ has confirmed experiments on the rumored “MUFJ Coin”, a digital currency that could soon become the world’s first ever digital currency issued by a major bank. A spokesman for Bank of Tokyo-Mitsubishi UFJ has, in a statement to Reuters, confirmed that the bank is experimenting on a “coin” issued by the bank that is underpinned by blockchain technology, like bitcoin. The spokesman was addressing a recent report from prominent Japanese national daily newspaper, The Asahi Shimbun. The publication cited sources who revealed that the bank will....