MUFG and Progmat have announced their collaboration with the stablecoin JPYC. Progmat is a tokenization platform created by Japanese MUFG and supported by other institutions. The Progmat-MUFG-JPYC transaction has a dual meaning. JPYC will explore additional stablecoin formats and issue them through the Progmat Coin platform. JPYC has applied for a license allowing Progmat to exchange the stablecoin issued with other offshore stablecoins.