Japanese Bank MUFG Is Planning to Issue a Trial of Its Own Digital Currency

NHK reported on Tuesday, May 15, that Mitsubishi UFJ Financial Group (MUFG), one of the largest banking units of the Japanese financial market, intends to launch a cryptocurrency. The trial is expected to be tested in a number of areas in Japan next year.

A large-scale test will involve more than 100,000 MUFG customers who are willing to join the project. They will need to install an app on their phones in order to have the funds converted into virtual coins, with each coin being worth a yen. These crypto coins can be spent at different shops as well as restaurants or transmitted to another bank account holder.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/mufg-to-issue-digital-currency/