World’s Fourth Largest Bank is Testing its Own Cryptocurrency

[kreslik.news]

Japan’s biggest lender, Mitsubishi UFJ Financial Group (MUFG), is planning a new ‎cryptocurrency called MUFG Coin, which promises to create a borderless shopping ‎experience, according to local news outlet NHK.‎

The company is also said to be investigating other ways to leverage ‎the tokenized digital currency and its underlying blockchain technology ‎across its banking services.‎

The new coin is reportedly allowing the customer base to purchase goods and services ‎from “restaurants, convenience stores and other shops, as well as make transfers ‎to the accounts of other participants.” ‎

The move comes nearly one year after the banking giant ‎has joined the blockchain-based “utility ... (read more)