Japanese stablecoin platform Progmat and e-commerce and entertainment group DMM.com have partnered to explore the creation of a stablecoin for DMM’s Seamoon Protocol. The stablecoin aims to bolster the stability of the Seamoon ecosystem and will be rolled out in three phases, alongside fiat and credit cards. DMM has also developed the SMP cryptocurrency for the protocol, set to debut with five anime-themed online games in late 2024. Initially, the SMP coin will serve as the primary payment method within the protocol and DMM's wider network. Subsequently, the stablecoin will act as a treasury for the protocol and ensure price stability for SMP. The project will adhere to Japan's Payment Services Act, easing previous restrictions on stablecoin issuance. Progmat, supported by MUFG, has a history of collaborating on stablecoin projects and carbon credits trading platforms in Japan. Read more AI-generated news on: https://app.chaingpt.org/news