DMM teams Crypto partnered with Progmat Inc. to launch a stablecoin under Japanese regulations. The stablecoin will be minted on the Progmat Coin platform, which complies with Japanese law. By adhering to regulatory standards, the partnership aims to provide a secure and transparent digital asset for users. Stablecoins serve as a bridge for users and institutions, offering a way to access blockchain technology with reduced volatility compared to other cryptocurrencies. Tied to traditional currencies, stablecoins allow for fast, secure transactions and encourage wider adoption. Institutions are increasingly exploring stablecoins to integrate blockchain solutions into traditional finance. This partnership reflects the growing trend of regulated stablecoins helping to expand the reach of decentralized finance. As stablecoins continue to evolve under regulatory frameworks, they play a crucial role in connecting traditional financial markets to the expanding digital asset space, encouraging broader participation from both retail and institutional users.
DMM Teams Crypto to Launch Stablecoin
DMM teams Crypto, a subsidiary of DMM Group, announced a partnership with Progmat Inc to roll out a stablecoin compliant with Japan’s regulations. In an August 23 release, the company revealed that both firms would begin with a joint study as the first step of the project. The stablecoin will be used within the Seamoon Protocol, serving as a reserve currency for its treasury pool and as a price mechanism for SMP. The Seamoon Protocol is an interoperable web3 network featuring DMM team’s vast catalog of video games, anime, movies, TV shows, and online streaming content.
SMP, a soon-to-be-launched cryptocurrency, will act as the primary means of payment within the Seamoon Protocol and across DMM’s larger portfolio. Users will also have the option to transact using fiat currency and credit cards. Nagato Kasaki, CEO of DMM team Crypto, emphasized the importance of creating reliable digital assets and praised the partnership for enhancing the project. He added that the Seamoon Protocol aims to offer the community a way to engage with its cultural universe.
Firms Double Down on Stablecoins
Recently, DMM teams and other crypto firms introduced new stablecoins in response to rising global adoption and the need to leverage advancements in cross-border payments. DMM teams are focusing on capitalizing on these trends by offering innovative solutions within the stablecoin market. On August 21, Tether announced its plan to launch a UAE Dirham-backed stablecoin, aimed at supporting the growth of the crypto industry in the Middle East. This reflects the growing interest in region-specific stablecoins as essential tools for enhancing financial services and bridging traditional finance with digital assets across different markets.
In addition, Mercado Pago introduced the MELI Dollar in Brazil, a stablecoin linked to the U.S. Dollar, further signaling the shift towards stablecoins in Latin America. Meanwhile, Russia is preparing to launch two crypto exchanges and a BRICS stablecoin, which will be tied to the Chinese yuan. DMM teams are closely watching these developments, recognizing the growing influence of stablecoins in facilitating global transactions.
DMM teams are actively exploring how stablecoins can bridge traditional finance and digital assets, particularly in emerging markets. As more countries experiment with region-specific stablecoins, DMM teams recognize opportunities to expand their offerings and address the rising demand for secure, regulated digital assets. The global growth of stablecoins is reshaping institutional approaches to crypto adoption, and DMM teams are positioning themselves as key players in this evolving space. With a focus on innovation and strategic growth, DMM teams aim to leverage the increasing integration of stablecoins within the broader financial system to drive new opportunities and expand their market presence.
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