Mitsubishi UFJ to launch its cryptocurrency in early 2019

According to news Agency NHK, the banking division of the Japanese financial group Mitsubishi UFJ Financial Group (MUFG), is considering launching in early 2019 MUFG own cryptocurrency Coin. The project will begin work in a test phase in several regions of the country. MUFG is the world’s fifth Bank by total assets.

It is expected that in future new technologies will take part more than 100 thousand customers MUFG, which will offer to download and launch an application that allows you to convert their deposits in yen in the cryptocurrency at the rate of 1:1. The Bank’s customers will be able to pay with this cryptocurrency in some restaurants and stores, who will also take part in the experiment. In addition, project participants will be able to transfer funds between your accounts.

During this experiment, the Bank will monitor the performance and security of transactions. The list of companies working with the new currency, it is planned to gradually expand.

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