On Friday (9 November 2018), MUFG Bank, the principal banking unit of Mitsubishi UFJ Financial Group (MUFG), the world's fifth largest bank (by total assets), announced the signing of a Memorandum of Understanding (MOU) with Banco Bradesco, one of the largest banks in Brazil, to collaborate development of a new cross-border payment service, using Ripple's technology, between Japan and Brazil.
