Japanese banking company Mitsubishi UFJ Financial Group, Inc. (MUFG) said it would use Ripple (XRP) to create a new payment service in Brazil – a press release on November 9.
MUFG has demonstrated a growing interest in cryptocurrency products and will work with Brazilian Banco Bradesco to create a platform through its local subsidiary – Banco MUFG Brasil.
"Creating a platform is a huge step in advancing the payment system between Japan and Brazil" – the press release says.
Editor: Yuliya Soroka
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