DMM, a leading Japanese entertainment conglomerate, is partnering with digital asset infrastructure provider Progmat to develop a regulated stablecoin. This collaboration is set to revolutionize the way digital assets are used within DMM’s extensive cultural and entertainment ecosystem.
The partnership, aimed at issuing a stablecoin compliant with the regulations enacted by Japan’s parliament in June 2023, will see the new digital currency minted on Progmat’s Coin platform. The stablecoin is expected to play a crucial role in DMM’s Seamoon Protocol, a Web3 network that integrates popular video games, movies, and television shows into a cohesive digital universe.
DMM Crypto, a subsidiary of DMM Group, will spearhead the adoption of the stablecoin within the Seamoon Protocol. The initiative is designed to enhance user engagement and create innovative opportunities for collaboration within the Web3 space. The stablecoin is envisioned as a key component of the Seamoon ecosystem, facilitating seamless transactions and contributing to the overall stability of the network’s digital economy.
Nagato Kasaki, CEO of DMM Crypto, expressed enthusiasm about the collaboration, stating, “Our goal with the Seamoon Protocol is to build a global platform where communities can explore and contribute to DMM’s rich cultural offerings. The development of a stable and reliable digital asset, such as the planned stablecoin, is essential to realizing this vision.”
Kasaki also highlighted the importance of Progmat’s expertise in advancing DMM Crypto’s mission, noting that the support from Progmat’s team will be instrumental in enhancing the user experience within the Seamoon Protocol.
The stablecoin, once developed, will serve multiple purposes within the DMM ecosystem. It will act as a reserve currency for the project’s treasury, ensuring liquidity and price stability. Additionally, the stablecoin will underpin a forthcoming cryptocurrency that will be used as the primary payment method across the Seamoon Protocol and DMM’s broader portfolio of entertainment ventures.
This partnership between DMM and Progmat is poised to set a new standard for how digital assets are integrated into the entertainment industry, offering users a more dynamic and secure experience in the emerging world of Web3.
