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Japan’s Big Three Banks to Launch Yen-Pegged Stablecoin in Cross-Border Settlement Pilot

Japan’s Big Three Banks to Launch Yen-Pegged Stablecoin in Cross-Border Settlement Pilot

Author:

Global Cryptocurrency

Published:

2025-10-18 00:16:02

9

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BTCCSquare news:

Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group are jointly developing a standardized stablecoin system for corporate settlements. The initiative will debut with a yen-pegged digital currency, followed by potential dollar-linked versions, aiming to streamline cross-border transactions through interoperable blockchain infrastructure.

Mitsubishi Corporation will serve as the first real-world tester of the stablecoins for fund settlements. The pilot allows the banking consortium to refine operational protocols and compliance mechanisms before broader rollout. MUFG's existing blockchain expertise forms the technical foundation for this institutional-grade digital cash experiment.

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