Mitsubishi UFJ Trust Bank and Binance Japan collaborate on new stablecoin venture

Mitsubishi UFJ Trust Bank has announced a strategic collaboration with Binance Japan and Progmat.

The project aims to leverage Progmat Coin infrastructure to facilitate the issuance and management of a stablecoin that will not only be linked to the Japanese yen (JPY) but also to foreign currencies like the United States dollar (USD).