🇯🇵 Japan's Largest Banks Migrate from SWIFT to Blockchain

💥 The three largest banks in Japan - MUFG, SMBC, and Mizuho - will conduct testing of a cross-border stablecoin transfer platform.

🌐 The project, called Project Pax, involves blockchain companies Progmat, Datachain, and TOKI.

✔️ Initially, such transfers will be available to Japanese and international financial institutions, with commercialization planned for 2025.

✔️ Recently, Japan's Prime Minister referred to Web3 and blockchain as solutions to social problems, while local e-commerce giant DMM Group, in collaboration with Progmat, is working on creating a stablecoin that will become the primary currency for DMM and its partners. 💸