MUFG drops blockchain payment project to focus on stablecoins

Established in 2019, MUFG’s blockchain payments project GO-Net Japan is shutting down due to low expected profitability.

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MUFG Shuts Blockchain Payments Network within a Year of Launch

Japan’s largest lender, Mitsubishi UFJ Financial Group (MUFG) announced on Tuesday the decision to shut down the blockchain-based online payments network, Global Open Network Japan that was develop...

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MUFG boosts its crypto exposure following $41M Zipmex funding round

Thailand's Bank of Ayudhya, where MUFG holds a 76.9% stake, has participated in a $41 million raise for Asia-Pacific-focused crypto trading platform Zipmex.

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Japanese Banking Giant MUFG to Deploy Stablecoins on Public Blockchains

Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, announced its plans to deploy and distribute bank-backed stablecoins on different public blockchains. The Japanese bank has partnered with Datachain, a blockchain interoperability company, and Toki, a cross-chain bridge, to allow the interoperation of these licensed stablecoins along several blockchains using its Progmat Coin protocol.

The post Japanese Banking Giant MUFG to Deploy Stablecoins on Public Blockchains appeared first on BTC Ethereum Crypto Currency Blog.

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MUFG to facilitate Japanese bank-backed stablecoins via Progmat Coin platform

MUFG hasn’t revealed what firms will be the first to utilize its platform, however a handful of banks have reportedly already opted for a separate stablecoin solution.

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