Mizuho, MUFG and SMBC have completed a joint yen stablecoin pilot in July. The trial covered issuance, transfer and redemption on behalf of Mitsubishi Corporation. These three major Japanese banks are targeting commercial transactions for fiscal year 2026. This project is part of Japan’s efforts to modernize its financial system with digital assets. The pilot demonstrates the growing interest of Japanese traditional financial institutions in stablecoins.
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