Mitsubishi Consortium UFJ tests payments with its own token
The Japanese group is in the test phase of its own recently launched cryptocurrency, the MUFG Coin in selected stores for employees
The Japanese financial consortium Mitsubishi UFJ (MUFG) is testing the payment system in authorized stores for its employees with its own recently launched cryptocurrency called MUFG Coin.
This test is the first step for the plan with the broadest scope of crypto payments in 2019, when the participation of 100 thousand users is expected, according to the report of the local newspaper Sankei Shimbun.
The shop where the proof of payment is made with the MUFG Coin is located in Tokyo. Consortium workers should only scan the QR code on the smartphone screen of the MUFG Coin digital wallet so that the amount is transferred to the store.
On the value of the cryptocurrency, it was known that 1 MUFG Coin is equivalent to 1 yen, the local currency. This parity strategy seeks to avoid the intrinsic volatility of these digital assets.
During the testing phase the digital currency can not be used for transactions in other commercial establishments. However, it can be used among those who have the cryptocurrency at a given moment. That is, the payment of a drink in a bar can be shared by the holders of the currency.
M.Pino
Source: CriptomonedasEicos
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