Japan megabanks to launch shared yen stablecoin by March 2027
MUFG, SMBC, and Mizuho, Japan's three largest banks by assets, have agreed to jointly issue a single yen-pegged…
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MUFG, SMBC, and Mizuho, Japan's three largest banks by assets, have agreed to jointly issue a single yen-pegged…
MUFG, SMBC and Mizuho already have the FSA's informal backing — together they move roughly half of Japan's deposits, which is the kind of balance-sheet mass USDT and USDC never had at launch.
The ruling party's proposal follows April's cabinet draft reclassifying crypto as a financial product, and would push Japan into line with the U.S.