Japan's three major banks will participate in testing stablecoin cross-border transfer platforms
Three major Japanese banks - Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMBC), and Mizuho Financial Group - will participate in a trial of a stablecoin cross-border transfer platform with the goal of providing faster international settlements for businesses.
According to a press release released on Thursday (5th), the project known as "Project Pax" will conduct preliminary trials using stablecoins issued by memory blockchain startup Progmat, supported by the aforementioned three banks, SBI Holdings, and Japan Exchange Group. It will be operated by Progmat, memory blockchain interoperability development company Datachain, and cross chain platform TOKI to facilitate testing of cross chain transactions.
The project plans to use SWIFT's existing API framework to allow banks to instruct Progmat to settle on the in memory blockchain network, which will help address money laundering prevention and other compliance challenges. This enables financial institutions to avoid operational redundancy in the transfer of legal tender and minimize investment costs
According to the statement, Project Pax will begin experimenting with a prototype with the goal of commercializing a stablecoin cross-border transfer platform by 2025. The team wrote in another blog post:
By combining these regulated stablecoins and truly open and secure cross chain information transmission standards with the current cross-border information framework, we are enabling enterprises to achieve cross-border settlements at internet speed
Progmat has established its "Progmat Coin" stablecoin platform with the support of several major financial institutions in Japan. The press release states, "Various stablecoins issued on the 'Progmat Coin' platform can be denominated in major fiat currencies such as Japanese yen, US dollar, and euro, and can be flexibly used domestically and internationally
data source
Related report: Binance Japan seeks cooperation with Mitsubishi UFJ Financial Group to launch Japanese yen stablecoin
(责任编辑:经济数据)
- ·火币网在哪公司
- ·小树时代周末可以审核吗?什么时候放假?
- ·贝莱德的现货比特币 ETF IBIT 是否变得太大而无法忽视?
- ·新币怎么ico 新币怎么换算人民币
- ·火币网与云币网区别
- ·华语加密用户反诈意识大调查:用户对交易所的信任依旧强劲
- ·借款买股票-借款买股票犯法吗
- ·代币交易所
- ·v链币价格-V链币价格换算比特币
- ·台风什么时候来福州
- ·卡卡贷逾期造成信用卡被冻结的原因是什么呢?还款日没还款把我信用卡给冻结了。
- ·GEAR币最新价格 GEAR币今日行情 GEAR币最新消息
- ·fil封装机价格-fil封装机配置
- ·恭亲王的交易所
- ·火币充值小数点
- ·The memento craze will end after Trump wins the election! Which side do you stand on regarding the positive and negative arguments?
- · okx网页版
- · 欧亿app官网正式版下载
- · 全球三大虚拟货币交易平台
- · 易欧app官网下载
- · 亿欧交易所下载
- · 欧亿交易所怎么样。
- · 数字货币交易平台app
- · okx交易所app官网
- · 欧易正规
- · 数字货币交易所