Mitsubishi UFJ Financial Group explores issuing stablecoins on its blockchain platform

According to news on June 23, Mitsubishi UFJ Financial Group (MUFG), Japan's largest financial institution, is negotiating with stablecoin issuers and other companies to issue stablecoins through its blockchain platform. MUFG vice president of product Tatsuya Saito said in an interview that the agency is in discussions with multiple parties to use its blockchain platform Progmat to issue stablecoins anchored to foreign currencies, including the U.S. dollar, for global use.