Thecrypto yoga Progmat Coin ecosystem is taking shape in Japan. With a market maker, wallet provider and cryptocurrency exchanges on board, Progmat and Mitsubishi UFJ Financial Group (NYSE:MUFG) hope to launch two stablecoins in the summer of 2024.

Stablecoin platform Progmat Coin, MUFG and wallet provider Ginco have begun a study with the goal of issuing a yen-denominated XJPY stablecoin and dollar-denominated XUSDstablecoin, Progmat saidin a statement. This is in addition to the platform’s function enabling stablecoin issuance.