Japan’s Megabanks Fire Up Stablecoin Project With Mitsubishi at the Helm

TLDR: Japan’s top three megabanks have joined Mitsubishi UFJ to issue stablecoins backed by yen and U.S. dollars. Mitsubishi Corporation will be the first firm to use the new stablecoins for digital business payments. The banks plan to leverage deposits as backing, ensuring the tokens hold their fiat value during transactions. Japan’s evolving crypto regulations [...]

The post Japan’s Megabanks Fire Up Stablecoin Project With Mitsubishi at the Helm appeared first on Blockonomi.