Japanese conglomerate DMM Group and Progmat jointly research and issue stablecoins for the digital economy zone

ChainCatcher News, Japanese conglomerate DMM Crypto and Progmat have announced that they have begun joint research to issue a stablecoin that complies with the revised Payment Services Act.

This unique stablecoin is initially planned for use in the digital economic zone envisioned by the DMM Group, the "Seamoon Protocol." The goal is to expand the token economy and increase the value of SMP by combining it with the unique crypto asset (virtual currency) "Seamoon Protocol (SMP)."

It is stated that the plan will advance the use of the stablecoin in three phases. The first phase aims to stabilize the price of SMP and develop the economic zone; the second phase will expand its use as a means of payment between DMM Group companies; the third phase will use it as a payment method between whitelisted business partners and as a payment method for verified users (such as gamers).