The financial services company – Mitsubishi UFJ Trust – hopes to enhance its transaction system by utilizing blockchain technology for trading and a cryptocurrency for payments. As such, it will create a stablecoin tied to the value of the Japanese yen, claimed a new report.by Nikkei Asia, Mitsubishi UFJ Trust – a Tokyo-headquartered bank with over $1.5 trillion in assets under management – is seeking to enter the world of crypto by issuing a digital asset of its own.
Additionally, the initiative should propel the employment of blockchain technology in securities trading. The Japanese Trust Bank has promoted its use in partnership with Daiwa Securities and SBI. “Japan can no longer leave things unattended with global developments over digital currencies moving so rapidly,” one of them stated.
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