According to Asahi Shimbun, Japan’s Mitsubishi UFJ Financial Group (FG) will launch its digital currency “Coin” later this year. The digital currency will be jointly operated by Mitsubishi UFJ and Japanese Internet company Recruit. “Coin” can be used for payment, and can also be converted into cash and returned to a bank account. In addition, after launch, it is expected to be used on travel booking website Jalan and restaurant booking website Hot Pepper Gourmet. Services such as remittances between individuals are also expected. The exchange rate is 1 Coin for 1 yen. Lianwen Note: In October last year, Mitsubishi UFJ and Recruit reached an agreement to jointly establish a company operating “Coin”.