Categories: CryptoNews

Chain Partners With Mitsubishi UFJ Financial Group On Blockchain Trial

 

San Francisco-based blockchain solutions provider Chain, has announced a partnership with Mitsubishi UFJ Financial Group (MUFG), one of the largest Japanese financial institutions.

The release states that Chain will work with MUFG on implementing a proof of concept blockchain-based legal documents platform, where corporate clients and businesses can issue and trade Promissory Notes.

With this partnership, MUFG is looking to streamline the existing market for promissory notes by removing counterparty risk for market participants, and to also provide more transparency for regulators.

Satoshi Murabayashi, who heads the digital innovation division at MUFG, said in the press release:

“We are pleased to be working with Chain to explore the application of next-generation financial infrastructure that we believe could significantly enhance the experience for our clients”

Related Post

MUFG has been very actively involved with blockchains and digital currencies. In February of this year, the Japanese financial giant began experimenting with its own digital currency called MUFGcoin

, which relies on a P2P mobile network for verification of transactions.

Chain CEO Adam Ludwig explained that the MUFG partnership is a first for his company, “We are thrilled to be working with MUFG, our first partner in Japan” he said. Ludwig also stated that Chain is looking to cement long-lasting partnerships with financial institutions around the world.

“Chain’s partnerships with financial institutions are strategic and long-term, as is our commitment to Japan”

According to the post on Chain’s blog, the partnership will also focus on other applications of the technology in Japan’s digital payments industry.

 

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Traderman

Avid blogger, entrepreneur, and cryptocurrency enthusiast. I love writing about cryptocurrency, NFTs, price analysis, and much more!

Share
Published by
Traderman

Recent Posts

Best Crypto Wallets 2024: Top Choices for Security & Rewards

The 5 Best Crypto Wallets Worth Using in 2024 — Find Out Why Selecting a…

37 mins ago

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

7 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

17 hours ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

17 hours ago

Which Crypto Could Turn $1K Into $100K: Algorand (ALGO), Aptos (APT), or Rollblock (RBLK)?

Crypto investors are constantly searching for promising opportunities to diversify their portfolios and Algorand, Aptos,…

17 hours ago

Which Crypto Could Turn $1K Into $100K: Algorand (ALGO), Aptos (APT), or Rollblock (RBLK)?

Crypto investors are constantly searching for promising opportunities to diversify their portfolios and Algorand, Aptos,…

17 hours ago