Japanese bank to issue digital currency that cuts transaction costs

Japan’s biggest bank is releasing its own cryptocurrency in March — Investopedia — “The MUFG coin will have parity with the Japanese yen and will be rolled out to employees of the financial services group first. It will enable standard transactions, such as shopping or transfer of money between individuals (for example, splitting of a bill after a meal or drinks), at much lower costs as compared to credit cards.”


Japanese bank demos blockchain payment solution

Japan’s big banks showcase fintech at Ceatec show — Nikkei Asian Review — “A smartphone app lets users buy MUFG Coin with yen from their bank accounts and send the digital currency to others. Remittance costs are kept low thanks to blockchain, the distributed ledger technology that underpins bitcoin. With MUFG Coin, wiring amounts of money too small to be practical under typical bank fees becomes possible, according to the lender.”


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