Japan’s largest bank, MUFG (Mitsubishi UFJ Financial Group), has announced that its Progmat Coin solution will be used to issue local bank-backed stablecoins on multiple public blockchains, including Ethereum, Avalanche, Cosmos, and Polygon. This work is in its early stages, so no release schedule has been established. Stablecoin platform Progmat Coin aims to support stablecoin issuance from various trust banks, not just MUFG. Yesterday, new enabling legislation, the Payment Services Act, cam...