In 2019 the world's fifth largest bank is expected to issue its own cryptocurrency

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The Mitsubishi Bank UFJ Financial Group of Japan is in charge of issuing its own cryptocurrency for 2019. This was announced in a publication issued yesterday in Cointelegraph Japan. This crypto test called MUFG Coin could be involving about 100 thousand account holders in that bank.

This Bank is firmly and effectively positioned as the fifth largest bank in the world by assets. The MUFG tried to launch a token for January this year, becoming the first to issue one. These plans would have been made in 2016 according to a publication made by cointelegraph on those dates. However, it is expected that with the growth of the crypto-market the new crypto will achieve rapid volatility.

More and more companies want to form their own cryptocurrency
The functions of this cryptocurrency, the MUFG Coin, would be to offer currency functionality to the clients. These will have to perform a test with a download of an application that will convert your deposits automatically. The report issued by NHK ensures that the MUFG Coin will have the same value as a Yen.

Among users who try this currency can use it to pay in restaurants, supermarkets and different stores. In addition, this can easily be transferred to other accounts of participants in the crypto test. This bank will become another of the large Japanese companies that focuses on the world of cryptocurrencies. Other companies that have stolen the headlines this 2018 are DMM and Yahoo! With their respective releases. It is expected that there will continue to be more companies that decide to create their own cryptocurrency for the global market.