Mitsubishi UFJ Financial Group, a Japanese bank holding and financial services company headquartered in Chiyoda, Tokyo, Japan, confirmed in a announcement that the company will develop a digital wallet capable of storing “blockchain-powered digital assets”, NFTs and security tokens.
Mitsubishi ProgmatUT Digital Wallet
The Tokyo-based firm has confirmed that the idea for this new project has been confirmed by one of the platform’s subsidiaries, the Mitsubishi UFJ Trust and Banking Corporation. The digital wallet deployed by the firm will be called ProgmatUT.
It is also important to note that the Mitsubishi digital wallet will allow users to hold a variety of digital assets, whether NFTs or blockchain-based tokens, and in order to successfully implement this part , the wallet will be mounted on a new blockchain. network which will also contain the “first asset-backed security token in Japan”, the Progmat Coin.
Another noteworthy fact is that the introduction of the new digital wallet and Progmat Coin is in line with the GO-NET Japan services that Mitsubishi plans to roll out in the near future.
As covered in a recent report from Kripteu Magazine, Mitsubishi UFJ Financial Group (MUFG) also introduced the Progmat Coin Stablecoin platform, the purpose of which is the manufacture and release of stablecoins pegged 1:1 to the Japanese yen.
The emergence of the Progmat Coin will be followed by a series of public offerings, and the final push into the secondary markets will take place in 2023. Companies that have partnered with Mitsubishi UFJ Financial Group for the same include Kenedix, SBI and Nomura. . Companies have been working on the project for a long time, and it seems that the company aims to launch blockchain projects in Japan.