Mitsubishi UFJ and Japanese internet giant Recruit will form a joint venture to carry out digital currency related business

Mitsubishi UFJ Financial Group (MUFG) will set up a joint venture with the Japanese internet giant Recruit around the digital currency business it is developing. This time, the digital currency operation independently developed by MUFG that can be used for settlement and points services will be transferred to the new company. The new company is expected to contribute 51% to Recruit and 49% to MUFG. It is expected that the digital currency will first be circulated on services such as recruitment and restaurant reservations carried out by Recruit.