World’s Fourth Largest Bank is Testing its Own Cryptocurrency
Posted: Wed May 16, 2018 4:40 pm
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)