{"id":57308,"date":"2022-02-07T18:28:12","date_gmt":"2022-02-07T16:28:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57308"},"modified":"2025-09-04T11:04:54","modified_gmt":"2025-09-04T08:04:54","slug":"mufg-to-launch-stablecoin-pegged-to-the-yen-in-2023","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mufg-to-launch-stablecoin-pegged-to-the-yen-in-2023\/","title":{"rendered":"MUFG to launch stablecoin pegged to the yen in 2023"},"content":{"rendered":"<p>MUFG, Japan&#8217;s largest financial conglomerate, via its trust bank Mitsubishi UFJ Trust and Banking, announced plans to launch a stablecoin pegged to the Japanese yen in 2023. The report cites <a href=\\\"https:\/\/www.nikkei.com\/article\/DGXZQOGD26EAK0W2A120C2000000\/\\\">Nikkei<\/a>.<\/p>\n<p>The stablecoin named Progmacoin will find application in clearing and settlement on the platform for digital securities launched this year by SBI Holdings and Sumitomo Mitsui.<\/p>\n<p>The Osaka-based exchange will simplify investments in such non-traditional assets as real estate, as well as rights to distribute artwork and films.<\/p>\n<p>Progmacoin will speed up and reduce the cost of settlement of trades and broaden the market for tokenised securities.<\/p>\n<p>MUFG had been weighing such plans as far back as 2020.<\/p>\n<p>In December 2021, ForkLog <a href=\"https:\/\/forklog.com\/en\/news\/japan-proposes-limits-on-stablecoin-issuance\">reported<\/a> plans by Japan&#8217;s Financial Services Agency to set limits and restrict the list of stablecoin issuers by banks and remittance services. The latter have been allowed to issue \u201cstablecoins\u201d since 2023.<\/p>\n<p>In November 2021, Circle <a href=\"https:\/\/forklog.com\/en\/news\/circle-to-launch-stablecoin-pegged-to-the-japanese-yen\">announced<\/a> the launch of a yen-pegged stablecoin.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 the full feed of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUFG, Japan&#8217;s largest financial conglomerate, via its trust bank Mitsubishi UFJ Trust and Banking, announced plans to launch a stablecoin pegged to the Japanese yen in 2023. The report cites Nikkei.<\/p>\n","protected":false},"author":1,"featured_media":57309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[135,2290,807],"class_list":["post-57308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-japan","tag-mufg","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=57308"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57308\/revisions"}],"predecessor-version":[{"id":57310,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57308\/revisions\/57310"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/57309"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=57308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=57308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=57308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}