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MUFG, Toyota rally around next-gen cryptocurrency tech

Ethereum promises advanced functionality for corporate transactions

TOKYO -- Mitsubishi UFJ Financial Group and a Toyota Motor unit have joined a consortium promoting Ethereum, a virtual currency and versatile platform for transactions among businesses.

The Enterprise Ethereum Alliance, founded in February by around 30 European and American members including JPMorgan Chase and Microsoft, welcomed a slew of new faces Monday. These included MUFG, the Toyota Research Institute and startup Smart Contract Japan.

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