Share this article
Japan’s Largest Bank Latest to Develop Own Digital Currency
Bank of Tokyo-Mitsubishi UFJ (MUFG) has revealed it has developed its own digital currency nicknamed "MUFG coin".
By Pete Rizzo
Updated Sep 11, 2021, 12:06 p.m. Published Feb 1, 2016, 7:50 p.m.
Bank of Tokyo-Mitsubishi UFJ (MUFG) has revealed that it has developed its own digital currency nicknamed “MUFG coin” as part of its research into blockchain and distributed ledger technology.
According to The Asahi Shimbun, the digital currency project seeks to replicate the peer-to-peer (P2P) exchange and mobile wallet functionality inherent in bitcoin, but without relying on the bitcoin blockchain’s distributed network of miners.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
MUFG began the trial last fall, which is aimed at decreasing the costs of managing financial transactions, particularly in the case of P2P transfer and remittances.
Representatives from MUFG subsidiary BTMU confirmed the trial to CoinDesk, though they did not provide additional details when reached.
The announcement is reminiscent of Citi’s July revelation that it had created a proprietary network termed "Citicoin" on which it was conducting experiments and comes amid an increasing period of activity from both commercial and Japanese banks.
, for instance, announced this week the creation of a new company with distributed ledger startup Ripple, as well as an investment in bitcoin exchange Kraken. Meanwhile, MUFG competitors including Barclays, BBVA and Banco Santander have all made recent announcements on the subject.
Mitsubishi UFJ Financial Group had previously been revealed as a member of blockchain technology consortium R3CEV, which has enrolled 42 global banks into its program and is expanding to include non-banks.
Image credit: TK Kurikawa / Shutterstock.com
Más para ti
Lo que debes saber:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Más para ti
U.S. added 64,000 jobs in November, with unemployment rate jumping to four-year high of 4.6%
Combined with softer than expected October data, this morning's numbers point to at least a modestly weaker jobs market as the economy heads into the end of the year.
Lo que debes saber:
- The U.S. added 64,000 jobs in November, while the unemployment rate rose to 4.6%.
- As for October, employment fell by 105,000 versus 119,000 jobs added in September.
- Both reports had been delayed to the U.S. government shutdown.
Top Stories
