Binance is seeking to launch stablecoins denominated in the dollar, euro and yen in Japan next year, as the embattled global crypto exchange pushes into the nation’s nascent market.

Binance Japan Inc. wants to introduce the three tokens and potentially more in 2024 through its partnership with Mitsubishi UFJ Financial Group’s trust banking arm, Takeshi Chino, the unit’s general manager, said in an interview. The two firms have started jointly studying the issuance, according to a statement.

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Binance Seeks to Launch Stablecoins in Japan with MUFG Unit