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Mitsubishi Tokyo UFJ participates in New Ripple XRP Domestic remittance coalition
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[Image: 15202060_japans-biggest-bank-partners-ri...?bg=4D6475]
2017/4/24 Bank of Tokyo - Mitsubishi UFJ participates in a study group on the new remittance system consisting of Mizuho Financial Group , Yokohama Bank and others. We will jointly work on building a mechanism to remit money at low cost by utilizing the "block chain" which is the core technology of virtual currency. We are already promoting cooperation similar to that of overseas banks, and also as a bridge to overseas by joining the domestic coalition.

It is a consortium to which 47 banks, including major banks in the country and regional banks, join. We are aiming to lower the remittance cost and to be able to settle instantly 24 hours and 365 days using the system developed by ripple of US venture company. In the overseas remittance field, Mitsubishi UFJ Bank is already working on improving the convenience of remittance service in cooperation with six major banks in the US, Europe and Australia.

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