TechFlow News — TOKI, a cross-chain bridging provider, has become a partner of Progmat, the stablecoin platform launched by Mitsubishi UFJ Trust and Banking Corporation (MUFG). In collaboration with the token issuance protocol Noble, TOKI aims to bring fully collateralized Japanese yen-pegged stablecoins to the Cosmos ecosystem.
Under Japan's stablecoin regulations, these stablecoins will be pegged to the Japanese yen or other fiat currencies, with plans for launch in early 2024.
TOKI and Noble are working closely with Progmat to achieve this goal, with plans to eventually enable cross-chain swaps between Japanese stablecoins and Ethereum-based stablecoins, as well as support cross-chain lending.
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