After months of speculation about its proposed release date, Japan’s largest bank, Mitsubishi UFJ Financial Group Inc. has finally announced plans to launch its long-awaited in-house digital currency.
The newly-appointed president of MUFG has announced that the bank is going to put its own cryptocurrency known as MUFG Coin to practice this year.
Japan’s largest bank, MUFG, will collaborate with Akamai Technologies to introduce a new blockchain-based payment network in 2020.
The cloud delivery platform Akamai and the financial group MUFG are developing a new blockchain-based online payment network. The technology is expected to come in the first half of 2020.
One of the largest banks in the world has announced its MUFG Coin trial which is expected to involve about 100,000 account holders.
Japanese banking giants are looking to invest in financial technology startups, as the government is promoting innovation in the competitive fintech market.
Thirteen top banks, including Citi, Bank of America and Deutsche Bank, have joined a consortium led by financial tech firm R3 that is developing blockchain technology for the financial industry.