Mitsubishi UFJ Financial Group Inc (MUFG). is planning to release its own coin by March 2018. The MUFG coin will have parity with the Japanese yen and will be rolled out to employees of the financial services group first. It will enable standard transactions, such as shopping or transfer of money between individuals, and costs are much lower than a credit card. However, MUFG treats cryptocurrency as an asset, not currency.
if interested in, you can read "Japan's Biggest Bank Is Releasing Its Own Cryptocurrency In March "
it is not uncommon for huge corporations to issue their quasi currency,this time it will be based
on blockchain technology and the bank is located in Japan,which has legalised cryptocurrencies
and yes they will treat cryptocurrencies as assets,not money and there is huge difference
BUT it could the first step for accepting bitcoins as legal tender,though,along with yen
I'm surprised Japan is pretty slow on adopting bitcoins,there should be more banks,companies,retailer groups etc. accepting bitcoins
the amount of new exchanges opened is not staggering either,eleven licenses,while many have closed in light of the new rules
also there is a big chance Japan will follow both Korea and China if the money laundering and capitol flight become a big issue
