**Japanese Stablecoin Initiative: Progmat and DMM.com Team Up**

**Tokyo, Japan** - Progmat, a Japanese stablecoin platform, and DMM.com, a major e-commerce and entertainment group, are collaborating to explore the issuance of a stablecoin for DMM’s Seamoon Protocol. This stablecoin aims to enhance the stability of the Seamoon ecosystem.

**Key Points:**

- The stablecoin will be rolled out in three phases, complementing fiat and credit card payments.

- DMM has also launched the SMP cryptocurrency, set to debut with five anime-inspired online games in late 2024.

- In the first phase, SMP will be the primary payment method within Seamoon Protocol and DMM’s companies.

- Phase 2 will see the stablecoin and SMP used across DMM’s conglomerate and trading partners.

- Phase 3 will extend usage to verified protocol users and registered business partners.

**Regulatory Compliance:**

- The stablecoin activities will adhere to Japan’s Payment Services Act, effective June 2023, which eased restrictions post-Terra Labs collapse.

**Background:**

- Progmat, backed by Mitsubishi UFJ Financial Group (MUFG), launched in 2022 and has collaborated on various stablecoin projects, including yen- and dollar-pegged coins.

Stay tuned as DMM and Progmat bring financial stability to DMM’s Web3 universe!