Today blockchain interoperability startup DataChain said it has received funding from Japan’s biggest bank, MUFG. The two firms have been working together since last year on blockchain interoperability for MUFG’s Progmat Coin, a multi bank stablecoin issuance platform. Earlier this month the companies said they were targeting public blockchain stablecoins, with the timeline confirmed today as April 2024.
The amount of the investment was not disclosed but the Nikkei reported it was likely less than Yen 100 million ($700,000) representing just 1% of the company.
There are several aspects to the joint initiatives. On the one hand, there is the launch of a stablecoin solution on public blockchains.
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