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

Megabank Mitsubishi UFJ Financial Group (NYSE:) has announced its stablecoin issuance platform “Progmat Coin” will soon be used by banks in Japan to launch Japanese yen-pegged stablecoins on several public blockchains.

Japanese banks have recently outlined intentions to either look into or launch stablecoins following new regulations that came into effect this month.