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Mitsubishi invests in Blockchain

Today Coinbase announced that has raised $10.5m thanks to Bank of Tokyo Mitsubishi UFJ, 

Mitsubishi UFJ Capital and Sozo Ventures.

Also, Bank of Tokyo Mitsubishi UFJ itself started a new partnership with Coinbase, confirming rumors that the American startup was working on a proof-of-work project with an Asian bank.
Thanks to this move, Mitsubishi invests in blockchain applications.

Mitsubishi invests in Blockchain: a gap to fill up

In a press release, Coinbase explained that this collaboration will allow to fill up the gap between the blockchain and traditional financial institutions.

“Partnering with leading global financial institutions is a key part of our strategy and we are thrilled to be working with BTMU.”

Also, the well-known exchange commented that wants to launch several services in Japan; this way the startup will be able to serve a second Asian market.

Mitsubishi to have its own cryptocurrency

This news came following a report from the Asahi Shimbun newspaper and the bank will soon issue a virtual currency (the MUFG Coin?) that will be available next year.

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