Japan’s $3 trillion Mitsubishi UFJ Financial Group (MUFG) has announced its deployment of artificial intelligence for loan reviews and a collaboration with three major banks to create a joint proof-of-concept for a stablecoin. This move aligns with MUFG’s strategy to enhance its financial services amid rising demand for AI technologies, as the bank is also looking to finance data centers to support AI development. Additionally, MUFG is participating in an experiment with Japan’s top banks and Nomura and Daiwa to explore the use of stablecoins for securities settlement.
MUFG announces AI use for loan reviews, stablecoin proof-of-concept
