Japanese financial institution Mitsubishi UFJ Financial Group (MUFG) is in talks with several stablecoin issuers to issue stablecoins through its blockchain platform, Bloomberg reported. Tatsuya Saito, vice president of products at MUFG, said that MUFG is discussing with multiple parties to use its blockchain platform Progmat to mint stablecoins anchored to foreign currencies for global use. Japan’s stablecoin law came into effect on June 1, and only the country’s licensed banks, registered remittance agents, and trust companies can issue stablecoins.