Largest Bank of Japan to Create Own Stablecoin

Mitsubishi UFJ Financial Group's stablecoin will tied 1:1 to Japanese yen and users will be able to exchange fiat for MUFG Coin instantly through the app
10 April 2019   252

The fifth largest in the world and the largest bank in Japan, Mitsubishi UFJ Financial Group (MUFG), announced plans to launch its own cryptocurrency by the end of this year. Thus, MUFG will be the first Japanese bank to issue its own stablecoin, according to Cointelegraph.

The coin will be tied to 1: 1 Japanese yen. The main focus of the developers made on the practical use of cryptocurrency and its functionality - users can exchange Fiat for MUFG Coin instantly through the application.

It is also reported that about 1,500 bank employees have already taken part in testing the new cryptocurrency. The beginning of the pilot tests of the coin became known in 2017, but then it was positioned as a digital currency for the company's internal operations.

In February MUFG announced the launch of the payment blockchain platform Global Open Network

Bibox Exchange to Conduct 4 IEO Simultaneously

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens and the IEO to be perfomed at Bibox's Orbit platform
19 April 2019   99

Bibox cryptocurrency exchange presented four projects that will conduct the initial exchange offering of their tokens as part of the first wave of IEO on April 22 on the Bibox Orbit platform.

  1. The Force Protocol (FOR) is a distributed protocol of crypto-financial services based on a public blockchain system, providing opportunities for cross-platform asset transaction and communication, use of crypto assets from several blockchains to provide steybcocoins, issue tokenized bonds, etc.
  2. Ludos (LUD) is a solution for a distributed gaming ecosystem designed to bring large-scale blockchain games and economic incentives to life.
  3. Staking (SKR) is a decentralized asset management platform that allows investors to safely stack tokens.
  4. X-Block (IX) is a computing system based on the blockchain architecture.

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens. Potential investors will be able to declare how many tokens of a project they want to purchase based on their BIX, after which a separate rally will be held for each of the projects.