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:银饰)
- 楼盘不支持公积金贷款怎么办?有什么解决办法吗?
- Ether Whale engages in a long and short battle! Some people suffered a tragic loss of 17.51 million magnesium on the weekend, while others took the opportunity to repurchase at a low price
- 火币比特币提现
- 10月31日嘉实民安添复一年持有期混合C净值下跌0.01%,近6个月累计下跌2.38%
- 收到房租开什么发票
- 10月31日安信新优选混合C净值下跌0.07%,近1个月累计下跌1.78%
- 火币网交易app
- 比特交易所排名第几,前十比特币交易所
- 购买的安全帽怎么做会计分录
- 10月31日前海开源优质企业6个月持有混合C净值下跌0.62%,近1个月累计下跌5.29%
- 收到实名认证金额怎么入账
- meme币交易所下载官方app下载 meme币最新版下载ios
- 比太钱包怎么样
- 甲骨文拟400亿美元购英伟达芯片支持OpenAI数据中心
- 10月31日兴证全球合瑞混合A净值下跌0.14%,近1个月累计下跌2.24%
- 年金保险退保金额如何计算?具体退保金额是多少?
- 确认坏账无法收回的会计分录是什么
- sers股票-sers股票是什么意思
- Kraken上能买英伟达了,和在券商炒股有什么不同?
- 韩国贸易平台-韩国贸易平台有哪些
- 虚拟货币交易平台排名 views+
- 十大虚拟货币交易平台app views+
- okx交易所app官网链接 views+
- ok币 views+
- 虚拟货币交易平台排名 views+
- oe交易所app下载 views+
- 欧易正规 views+
- 易欧app官网下载 views+
- okcoin交易平台 views+
- 数字货币交易app views+