Japanese Government Plans CBDC, Mitsubishi Launches Its Own Stablecoin

Japan is committed to the development of stablecoins. Thus, the Japanese government plans to include the issue of working with CBDC in the official plan to restore the country's economy. The plan is a part of Japan's national strategy. Also, the government plans to consider the possibility of using CBDC when interacting with other countries.

Also, according to the Japanese newspaper Mainichi Shimbun, the financial group Mitsubishi UFJ (MUFG) has developed a plan to issue its own stablecoin. MUFG CEO Hironori KAMEZAWA told the media on Monday that the stablecoin is slated to launch in the second half of the year.

The similar plans were first made public in autumn of 2015, but later they were delayed. The start was already announced in 2018, and then postponed again to 2019. Now Kamezawa has announced that the project will be completed this year.

Image courtesy of Finance Magnates