MUFG said it did not expect much change in the text of the FOMC's statement in January compared with December, and the FOMC was still expected to be satisfied with guidance that "the committee will carefully evaluate the latest data, the evolving outlook, and the balance of risks as it considers the extent and timing of additional adjustments to the target range for the federal funds rate". The four-person voting committee was replaced this time. The new voting committee was Goolsby, Collins, Mu...
Bank of Mitsubishi UFJ, Sumitomo Mitsui Bank and Mizuho Bank will pilot stablecoin platforms to facilitate cross-border transfers. The pilot test, called "Project Pax", will utilize stablecoins issued by Progmat, a blockchain startup backed by SBI Holdings and Japan Exchange Group. The project will be operated by Progmat, Datachain and TOKI to facilitate testing of cross-chain transactions. The project plans to leverage SWIFT's existing banking API framework to direct Progma...
Mitsubishi UFJ Bank's decline widened to 21%, and its share price hit a record low.