Mitsui & Co: New gold stablecoin will be launched this month

Mitsui & Co, one of Japan's largest companies, plans to launch a gold-linked stablecoin later this month. This would be the first of its kind in Japan.

Mitsui & Co. want to launch Japan's first gold-backed stablecoin, ZipangCoin (ZPG), later this year.

The value of a ZPG should correspond to one gram of gold.

Initially, the coin should only be available on Mitsui's in-house crypto exchange, but it can then also be traded on other exchanges.

The Mitsui Group is one of the largest corporations in Japan. The conglomerate is active in the areas of logistics, finance and energy, among other things.

We recently received news from Japan that the authorities are considering liberal regulation of crypto exchanges .

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