Mitsubishi UFJ Trust Bank is testing the interoperability of yen stablecoins

ChainCatcher news, reported by Coinpost, Japan's largest trust bank, Mitsubishi UFJ Trust and Banking Corporation, announced that it is collaborating with Datachain and Soramitsu to smoothly achieve the mutual transfer and exchange of various stablecoins scheduled to be issued in Japan, as well as to improve remittance efficiency and reduce costs among banks, companies, and individuals.

It is reported that the plan will conduct a demonstration experiment of "PVP payment," which means simultaneous payments between different digital currencies on heterogeneous blockchain platforms. This collaboration will involve the stablecoin platform Progmat Coin under the Mitsubishi UFJ Financial Group and the regional digital currency issued by Soramitsu using Hyperledger Iroha. (source link)