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:风向标)
- ·2025比特币交易所排行 安全的比特币交易app有哪些?
- ·ghst币今日价格
- ·嘴角烂了?可能是这些原因!嘴角烂是什么原因
- ·黑箱问题:为什么人工智能需要证明,而不是承诺
- ·浙江和福建交界是哪里-浙江和福建交界是哪里地图啊
- ·奇币是什么意思 奇币在哪里弄
- ·格物致知,古人咋搞科学研究?格物致知是什么意思
- ·特朗普削减中国关税 美国进口商重新考虑发货计划
- ·熬夜党必喝5碗养生汤!经常熬夜喝什么汤好
- ·下一场 DeFi Summer,有可能还是 DeFi Summer
- ·零食是啥?一文搞懂!snacks是什么意思
- ·帽子比交易平台
- ·全世界钱币排名前三十名 世界十大钱币排行前十名
- ·「25倍做空ETH」地址已平仓约18300枚ETH空单
- ·宝鸡市哪里好玩的地方-宝鸡市哪里好玩的地方推荐
- ·十问 Arthur Hayes:山寨季何时到来?ETH 和 SOL 后市谁更强势?
- · okx官方
- · 数字货币交易平台app
- · 虚拟货币交易
- · 欧亿app官网正式版下载
- · 欧亿交易所怎么样。
- · okx交易所app官网链接
- · 十大虚拟货币交易平台app
- · okcoin交易平台
- · okx网页版
- · okx交易所app官网