Japan's Three Major Banks to Jointly Issue Stablecoin by Fiscal 2026

Odaily Odaily MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank plan to jointly issue a stablecoin pegged to fiat currency by fiscal year 2026, and will establish a specialized consultation group to study practical business applications and operational mechanisms. The three banks are close to reaching a basic agreement. Since November 2025, the three banks have been conducting joint pilot tests related to stablecoin issuance with the support of the Japan Financial Services Agency. (Nikkei)