Japan's megabank Mizuho joins MUFG's stablecoin platform

Digital platform to be launched next year promises lower trade finance costs

20230905 Mizuho and MUFG

Two of Japan's megabanks will work together implementing a digital currency platform that could debut next year.

YUKI NAKAMURA, Nikkei staff writer

TOKYO -- Mizuho Financial Group will join a stablecoin platform being developed by Mitsubishi UFJ Financial Group, in a major boost to a framework still being developed that aspires to replace the conventional trade finance network, Nikkei has learned.

Mitsubishi UFJ Trust and Banking is leading the development of the platform, which is expected to come into being as early as in 2024.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.