Mitsubishi UFJ Trust hopes to bring about instant settlement of securities transactions by using blockchain for trading and a cryptocurrency for payment, Nikkei reported.
The new digital currency to be issued by the Japanese bank is a type of stablecoin tied to the value of Japanese yen. This crypto-currency will allow the bank to streamline and accelerate its settlement process, given that it will be instantaneous, the report added.
Read the full report: Nikkei Asia.
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