Japan's Three Largest Banks Plan to Jointly Issue Stablecoins in Fiscal 2026

MUFG-1%
According to Nikkei, Japan's three largest banks—Sumitomo Mitsui, Mizuho, and MUFG—plan to jointly issue stablecoins pegged to the yen in fiscal 2026, on June 9. The banks have established a coordination mechanism to advance real-world use cases and operational frameworks. They are expected to sign a basic agreement soon and have been conducting joint proof-of-concept tests under guidance from Japan's Financial Services Agency since November 2025.
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