• Binance is planning to introduce stablecoins denominated in the dollar, euro, and yen in Japan next year as it expands into the emerging Japanese crypto market. Binance Japan Inc., in collaboration with Mitsubishi UFJ Financial Group's trust banking arm, is looking to launch these three tokens in 2024, with the possibility of additional tokens in the future, according to Takeshi Chino, the unit's general manager. The two companies have initiated a joint study on the stablecoin issuance.

• Japan recently legalized stablecoin issuance by licensed firms, leading companies like Orix Corp. to consider launching these tokens, which are known for offering advantages such as faster money transfers and settlements. Mitsubishi UFJ Financial Group (MUFG) is in discussions with multiple parties regarding the use of its blockchain platform, Progmat, for creating stablecoins tied to foreign currencies.