Last year there was a report that MUFG, Japan’s largest bank, would launch its “MUFG coin” digital currency by the end of 2019. Today there is another similar report, but this time there are more concrete details. Mainichi newspaper reports that the launch will be in conjunction with a payments app for restaurant booking site Hot Pepper Gourmet, a subsidiary of Japan’s Recruit Group, which owns Indeed and Glassdoor.
The Hot Pepper web site states there are more than 42,000 affiliated outlets or restaurants, and it is planned that the affiliates will use MUFG’s coin. The information is based on an interview with Hironori Kamezawa, President of Mitsubishi UFJ Financial Group.
The collaboration makes quite a bit of sense because Recruit has significant interests in blockchain and digital currency. Its venture arm RSP Investments set up a blockchain fund that has invested in nine startups. But there are additional investments in Blockstack and Provenance, the mortgage blockchain.
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