TOKI, a cross-chain bridge supporting IBC, tweeted that it has cooperated with Progmat, a stablecoin platform of Japan's largest financial group Mitsubishi UFJ Financial Group (MUFG), and Datachain, a blockchain interoperability start-up company, to introduce Japanese yen stablecoins to the public. blockchain. As of June 1, the revised "Payment Services Law" has been implemented, which promotes the issuance and circulation of stablecoins in compliance with Japanese law. According to the law, Progmat plans to issue Japanese yen stablecoins on multiple blockchain networks in the second quarter of 2024. At that time, users can conduct cross-chain transactions such as cross-chain swaps, cross-chain payments, and cross-chain lending. Prior to this, TOKI will launch a cross-chain bridge at the end of 2023.