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First regulatory body to approve DMM Group and Progmat stablecoin?
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Resolution / Starting Odds
Financial Services Agency (FSA) of Japan • 25%
Japan Virtual Currency Exchange Association (JVCEA) • 25%
Bank of Japan • 25%
Other • 25%
Official announcements from regulatory bodies, news reports
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DMM Group and Progmat to Launch Regulated Stablecoin for Seamoon Protocol in Japan
Aug 25, 2024, 06:32 AM
DMM Group, a Japanese entertainment company, is collaborating with Progmat, a digital asset platform, to launch a regulated stablecoin in Japan. This stablecoin is designed for the Seamoon Protocol and will be rolled out in a three-phase plan. The initial phase focuses on stabilizing the Seamoon Protocol with a treasury pool. This initiative is seen as a strategic move to comply with Japan's stringent regulations and to strengthen the digital economy. The stablecoin will serve as a reserve currency and a price stabilization tool for future cryptocurrency projects.
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