Tokyo, Dec. 5 (Jiji Press)–Mitsubishi UFJ Morgan Stanley Securities Co. said Thursday that it plans to sell yen-denominated money management funds, an investment trust that mainly invests in short-term government bonds, starting next year. Yen-denominated MMFs will be sold in Japan for the first time in a decade, after financial institutions stopped offering them in 2016 due to weak demand amid the Bank of Japan’s negative interest rate policy. The company plans to offer the MMFs to institutional investors. It aims to sell them to individual investors as well in the future. The MMFs will be issued as digital securities using blockchain technology. Investors will be allowed to immediately exchange them for stablecoins, a proposed crypto asset backed by legal tender. END [Copyright The Jiji Press, Ltd.]
Mitsubishi UFJ Morgan Stanley to Resume MMF Sales
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