THREE major Japanese banks said Wednesday they will jointly issue a stablecoin in the current business year through next March for use in trading stocks and investment trusts at selected brokerages.
MUFG Bank, Sumitomo Mitsui Banking Corp. and Mizuho Bank also agreed to create a council to work out governance and other rules for the stablecoin, likely to be denominated in yen. They plan to expand the number of financial institutions where customers can use the digital money from the initial five, including Nomura Securities Co. and Daiwa Securities Co., which have been trialing the system since February.
Stablecoins are crypto assets pegged to tangible assets such as fiat currencies and are considered less volatile than other types of digital money such as Bitcoin. The three banks began trials in November 2025 with an eye to issuing a joint stablecoin, in a project backed by the Financial Services Agency.
Kyodo
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