#Tradingphycology

newspaper and media outlet CoinPost, Japan's Megabank, Mitsubishi UFJ Trust and Banking, will issue the country's first stablecoin pegged to fiat currency. The company stated that they had completed the development of the coin 'by the end of last year.'

Hiroshi Kubota, who took on the role of CEO of Mitsubishi UFJ Trust and Banking on April 1 of this year, said that the company is making 'final adjustments' to the coin before its launch. The newspaper wrote that the stablecoin will initially be used in the field of carbon credit trading.

The bank plans to 'expand' the use of the coin for 'settlement trading and other uses' in the future, on an unspecified date, wrote Yomiuri. Kubota said: '[Stablecoin] is low-cost and allows for faster settlement. [The coin] is revolutionary and will contribute to solving social issues.'