Binance and Mitsubishi UFJ Trust and Banking Corporation (MUTB) plan to use Progmat Coin, a regulatory-compliant stablecoin issuance and management system.
Crypto exchange Binance is teaming up with Japan’s largest bank, the Mitsubishi UFJ Trust and Banking Corporation , to explore the issuance of stablecoins in Japan.
The Japanese bank would be pioneering the development of the"Progmat Coin" platform as infrastructure for issuing stablecoins in accordance with Japan’s recently In a statement the general manager of Binance Japan, Takeshi Chino, said stablecoins are vital for the broader financial ecosystem. In addition to providing lower-cost and instantaneous cross-border trade settlement for businesses, they also facilitate seamless crypto transactions for retail investors, he added.
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