Mitsubishi UFJ Financial Group Bank (MUFG), which is the fourth largest bank in the world as well as being one of the largest in Japan, finally gave the long-awaited good news and announced that it will launch its own digital currency.
Although MUFG actually showed that it was very hot about the idea of digital money in early 2019, it made statements that clashed with it in December 2019. According to information from a local news site Mainichi, MUFG President Hironori Kamezawa has confirmed that the company will release its own digital money.
In the continuation of the Kamezawa statement, the company stated that it will launch the digital money by partnering with Recruit Group. The partnership with the Recruit Group was made last December, and digital money gossip also increased. It is also stated that the digital currency will be used in various restaurants and initiatives of Recruit Group.
It will be used in more than 1 million points worldwide
Recruit Group, which has more than 1 million stores worldwide, may have made a competitive breakthrough in many fiat currencies. It is emphasized that this attempt was delayed due to the coronavirus period. However, the use of digital money, which does not require contact instead of physical and physical money, can definitely be in serious demand in these days when there are fears of second wave viruses.
The launch of such a digital currency by the fourth largest bank in the world will be an important step to increase the acceptance of cryptocurrencies by the mainstream masses.