Cross-chain bridge provider TOKI collaborates with token issuer Noble to introduce fully collateralized Japanese stablecoins into the Cosmos ecosystem

ChainCatcher news, cross-chain bridge provider TOKI will collaborate with the stablecoin issuance platform Progmat launched by Mitsubishi UFJ Trust Bank (MUFG) and the token issuance protocol Noble to bring fully collateralized Japanese stablecoins into the Cosmos ecosystem.

According to Japan's stablecoin law, these stablecoins will be pegged to the yen or other fiat currencies, with an expected launch in early 2024. TOKI and Noble are working with Progmat to realize the vision of Japanese stablecoins, with plans for eventual cross-chain swaps with stablecoins on Ethereum and for cross-chain lending. (Source link)