Mitsubishi UFJ Financial Group (MUFG), one of the biggest banks in the world, located in Japan, plans to create its own cryptocurrency MUFG coin in 2018. It has been developing the idea of the launch of its own cryptocurrency since 2016.
“MUFG is the largest financial company in Japan and is set to become the first Japanese bank to issue a virtual currency”
– Mainichi.jp comments.
As it is typical for all cryptocurrencies, MUFG coin will be based on Blockchain technology. The cryptocoin will help all users to provide effective person-to-person transactions and shop with deducted fees.