The bitcoin trade becomes the prevailing activity of the financial sphere in Japan. Leading financial institutions begin to offer these services to maintain their market share, including Mitsubishi UFJ Financial Group (MUFG), the world’s fourth largest bank. Currently, the bank plans to launch its own exchange, as well as segregated bitcoin accounts for the customers of other exchanges. The bank is working to issue its own MUFG Coin cryptocurrency which will be backed up by the yen. This will allow controlling the exchange, where the trading of MUFG Coin will take place, which can suppress drastic fluctuations in its price. MUFG considers its own cryptocurrency as a tool for stable transactions when using currency for purchases, settlements and money transfers.
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