It has been coming for quite some time now, but Japan is poised to be one of the first few countries issuing their own digital currency. With the Bitcoin value soaring as of late, the Bank of Tokyo-Mitsubishi will launch the currency as soon as Q3 2017.
For several weeks now, there have been rumors circulating about Japan planning to legitimize Bitcoin as a currency in the country. It comes as no surprise to find out the country’s largest banks has initiated their plan to roll out a national digital currency next year. MUFG Coin, as this new currency will be called, may see the light of day as soon as Autumn 2017.
Digital Currency MUFG Coin Is Coming To Japan
The Bank of Tokyo-Mitsubishi UFJ Ltd.[8306: JP] has unveiled those plans, according to Japanese outlet The Asahi Shimbun. It is not the first time speculation regarding MUFG Coin pop up, as the bank had hinted a similar plan earlier this year. It looks as if the financial institution will now officially go ahead with this initiative, and venture into the world of digital currencies.