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<p> <h3 class="m-size-18"><span style="display: initial;" class="m-font-size-18" m-font-size-set="true">Mitsubishi UFJ (MUFG), Japan's Largest Bank, Adopts Global Stablecoin Development</span></h3>
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<div class="u_1250789679 dmNewParagraph" data-element-type="paragraph" id="1250789679" style="" data-version="5" data-styletopreserve="{" background-image=""><p><span style="display: initial;">In a pivotal step that highlights the shifting dynamics of digital currency, Mitsubishi UFJ (MUFG), the largest banking entity in Japan, is initiating talks with stablecoin issuers to promote the use of its blockchain platform. This strategic approach follows Japan's recent easing of regulations regarding stablecoins, allowing licensed financial institutions and registered money transfer services to launch such tokens.</span></p><p><span style="display: initial;">MUFG is proactively seeking collaboration with stablecoin issuers as well as entertainment firms and other non-financial sectors to drive stablecoin projects forward. These initiatives coincide with Japan's newly instated stablecoin legislation that took effect on June 1, representing a substantial leap in the country's regulatory landscape for digital currencies. Nonetheless, it is crucial to note that the regulation only allows for the issuance and application of stablecoins that are entirely backed by fiat currencies.</span></p><p><span style="display: initial;">Tatsuya Saito, MUFG's Vice President of Product, underscored the renewed trust the regulations bring, stating, "Issuers and users can confidently use stablecoins now that the legislation is active." With the new law permitting stablecoins to be linked to various currencies, including the US dollar, Saito pointed out the potential for issuing tokens aimed at international utilization.</span></p><p><span style="display: initial;">These progressive policies align with Japan's wider initiatives to loosen restrictions on cryptocurrencies. MUFG recently launched the Prograt Coin platform, which enables banks in Japan to issue stablecoins on public blockchain networks such as Ethereum. This notable achievement was facilitated through partnerships with TOKI, a firm specializing in cross-chain bridge technology, and Datachain.</span></p><p><span style="display: initial;">Japan's advancement towards cohesive stablecoin regulation commenced in 2022 with the introduction of a registration framework for stablecoins and the process for foreign businesses to issue such tokens within the country via digital asset custodians. These provisions were introduced as a part of a legislative effort to regulate cryptocurrencies associated with the yen and other currencies.</span></p><p><span style="display: initial;">Addressing financial system risks linked with stablecoins has been a primary focus for Japan, reflecting a dedicated initiative to protect investors in light of the growing significance of these digital assets. As MUFG takes the lead in enabling stablecoin issuance on its blockchain infrastructure, the implications of this development for the future of stablecoins in Japan and around the globe remain to be seen. As digital currencies continue to transform the financial sphere, Japan's forward-thinking strategy positions the nation as a leader in navigating the opportunities and challenges presented by stablecoins.</span></p></div> <div data-element-type="dYouTubeId" class="u_1919298060 youtubeExt dmNoMark youtube-padding-fix" id="1919298060"> <p>
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<div class="u_1119720674 dmNewParagraph" data-element-type="paragraph" data-version="5" id="1119720674"><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">Disclaimer:</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">GlobalStablecoins.com serves as an informational platform that offers news on coins, blockchain firms, blockchain products, and blockchain events. This should not be interpreted as investment advice. Please consult with a financial advisor before making any investments in an ICO, cryptocurrencies, cryptoassets, security tokens, utility tokens, exchange tokens, global stablecoins, stablecoins or eMoney tokens. GlobalStablecoins.com is not liable, directly or indirectly, for any damages or losses that may occur, claimed or otherwise, related to the use or reliance on any content found on the site.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;"><br/>Affiliate Disclosure / Sponsored Posts:</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">If a Sponsored Post references any cryptocurrency project, we urge our readers to undertake their own thorough research prior to making any decisions. GlobalStablecoins.com does not advocate for the purchase, sale, or retention of any cryptocurrency. Please perform your own due diligence and consult your financial advisor before committing to any investment choices.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">Before investing in Cryptoassets, you should be aware of the following,</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">Cryptoassets are regarded as very high-risk, speculative investments.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset; font-weight: 700;">If you decide to invest in Cryptoassets, you should be ready to potentially lose all of your investment.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">All Sponsored Posts are paid for by cryptocurrency projects, coin foundations, advertising firms, PR agencies, or other marketing entities. GlobalStablecoins.com is not affiliated with any marketing agencies, nor is it owned by any cryptocurrency or blockchain foundations.</span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">The purpose of offering Sponsored Posts to our advertisers is to aid in financing the everyday operational expenses of GlobalStablecoins.com. </span></p><p class="text-align-center" style="line-height: initial;"><span style="display: unset;">If you identify a Sponsored Post that you suspect is fraudulent and/or deceptive, please reach out to us and we will conduct a prompt investigation.</span></p></div>
</div>MUFG Leads Japan’s Major Shift Towards Global Stablecoins[embed]https://www.youtube.com/watch?v=xRiHsEHgxL0[/embed]
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