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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.