Mitsubishi UFJ brings a digital wallet and plans ahead with the launch of GO-NET
Mitsubishi UFJ Financial Group, a Japanese bank holding and financial services company headquartered in Chiyoda, Tokyo, Japan, has confirmed in an announcement that the firm will be developing a digital wallet that has the capacity to store “blockchain-powered digital assets,” NFTs, and security tokens.
ProgmatUT digital wallet by Mitsubishi
The Tokyo-based firm confirmed that the idea of this new project was confirmed by one of the subsidiaries of the platform, the Mitsubishi UFJ Trust and Banking Corporation. The digital wallet rolled out by the firm will be called the ProgmatUT.It is also important to note that the digital wallet from Mitsubishi will allow users to hold a variety of digital assets, be it NFTs or blockchain-based tokens, and in order to successfully implement this part, the wallet will be mounted on a new blockchain network which will also hold the “first asset-backed security token in Japan,” the Progmat Coin.
Another notable fact is that the introduction of the new digital wallet and the Progmat Coin is in line with the GO-NET Japan Services that Mitsubishi plans to roll out in the near future.
Stablecoin platform
As covered in a recent report from Cryptonary, the Mitsubishi UFJ Financial Group (MUFG) also introduced the Progmat Coin Stablecoin platform, whose focus is the manufacture and release of stablecoins that are pegged 1:1 to the Japanese yen.The emergence of the Progmat Coin will be followed by a series of public offerings, and the final push in the secondary markets will take place in 2023. The firms that have partnered with Mitsubishi UFJ Financial Group for the same include Kenedix, SBI, and Nomura. The companies have been working on the project for a long time, and it seems that the firm aims to pioneer blockchain projects in Japan.
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