Mitsubishi UFJ Trust and Banking Corporation (MUFJ), Japan's premier banking group, and Binance Japan, the local subsidiary of the world's leading crypto exchange, have announced a joint venture to issue fiat-pegged stablecoins. This collaboration aims to leverage the "Progmat Coin" platform, spearheaded by Mitsubishi's trust bank, to facilitate the issuance and management of stablecoins pegged to the Japanese Yen on public blockchains.