Yen stablecoin 2025: MUFG and three banks unite on Progmat platform

**MUFG Launches Yen Stablecoin Initiative on Progmat Blockchain Platform for 2025**

Japan's MUFG bank is spearheading a revolutionary yen-pegged stablecoin project set to transform corporate cryptocurrency payments and digital asset liquidity management in 2025. The banking giant's Progmat blockchain platform will serve as the foundational infrastructure for this ambitious stablecoin venture, partnering with three additional financial institutions to ensure robust token issuance and banking-grade custody solutions.

This yen stablecoin development represents a significant milestone in traditional banking's adoption of DeFi technologies and cryptocurrency integration. MUFG's Progmat platform is strategically designed to streamline cross-border settlements for multinational corporations, offering enterprise-level blockchain solutions that could compete with existing stablecoin markets dominated by USD-pegged tokens.

The joint banking consortium approach ensures regulatory compliance while providing institutional-grade settlement rails for corporate clients. This initiative positions Japan at the forefront of central bank digital currency (CBDC) innovation and could catalyze broader Asian cryptocurrency adoption. As Bitcoin and digital assets gain mainstream acceptance, MUFG's yen stablecoin could capture significant market share in Asia-Pacific corporate payment flows, potentially disrupting traditional correspondent banking relationships and reducing settlement times from days to minutes.