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Three major Japanese banks will test cross-border stablecoin transfer platforms
Bank of Mitsubishi UFJ, Sumitomo Mitsui Bank and Mizuho Bank will pilot stablecoin platforms to facilitate cross-border transfers. The pilot test, called "Project Pax", will utilize stablecoins issued by Progmat, a blockchain startup backed by SBI Holdings and Japan Exchange Group. The project will be operated by Progmat, Datachain and TOKI to facilitate testing of cross-chain transactions. The project plans to leverage SWIFT's existing banking API framework to direct Progma...
2024-09-06 09:58:35
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