Biggest Bank in Japan to Launch Crypto Token in 2019
Mitsubishi UFJ Financial Group Inc, Japan’s largest bank, announced plans to launch its own digital currency by the end of 2019.
According to Mitsubishi UFJ Financial Group Inc president Mike Kanetsugu, the firm will lean on businesses including retail outlets and restaurants to adopt Coin, with the intention of achieving wider adoption, resulting in “connected economic blocs.”
Coin will have ‘instantaneous transfer capabilities’ as well as the ability to process micropayments in decimal value increments, and the firm has lofty hopes that its crypto can fundamentally alter the Japanese relationship with money.
This bank-backed digital asset will also be integrated with MUFJ’s new mobile application so users can manage all of their credit cards in one place.
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