Largest Japanese Bank MUFG Projects to Offer Financial Services in Metaverse ...
MUFG, the biggest bank in Japan, is projecting to offer financial services through the metaverse in 2023. The financial giant has partnered with ANA Holdings, a holdings consortium focused on air transportation companies, to be part of ANA’s Granwhale metaverse, and explore the possibility of selling financial products on this platform next year. MUFG Prepares to Enter the Metaverse The biggest financial institution in Japan, MUFG, is making its move to enter the metaverse. On Nov. 7, the company announced a partnership with ANA Holdings, a consortium of companies dedicated to air....
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Bank of Tokyo-Mitsubishi UFJ (MUFG), the largest bank in Japan, has revealed that it is developing its own digital currency called MUFG coin. MUFG began the trial for its own virtual currency MUFG coin last fall and the smartphone application prototype that goes in tandem with the currency is also nearly done, as reported by the Asahi Shimbun, a national Japanese daily newspaper. The project is the bank’s endeavor to rein in costs and increase savings from lowered financial transactional costs including cheaper international remittance and money transfer. According to the publication, the....
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....
After many years of digital currency development, Japan’s largest bank, MUFG, has officially introduced its own stablecoin project. Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, is working hard to take the lead in stablecoin development, launching a proprietary stablecoin project.On Wednesday, MUFG introduced its stablecoin platform called “Progmat Coin,” a blockchain-based system for issuing and managing stablecoins pegged on a 1:1 ratio to the Japanese yen.The platform aims to enable a “universal digital asset payment method,” providing cross-chain....
Bitcoin exchange and platform Coinbase has announced new investment and partnership with the Bank of Tokyo-Mitsubishi UFJ (BMTU), Japan’s biggest bank. The endeavor will see Coinbase look toward expansion efforts in Japan and Asia. Bitcoin exchange and services platform Coinbase will raise $10.5 million from Japanese investors today with the aim to launch services in Japan. Currently, Coinbase only has an Asian presence in Singapore. Investors include the Mitsubishi UFJ Financial Group (MUFG) and the Bank of Tokyo-Mitsubishi UFJ (BMTU) Japan’s largest lender and bank, respectively. The....
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....