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Japan’s FSA Backs Major New Stablecoin Initiative

Japan’s FSA Backs Major New Stablecoin Initiative

Author:

Global Cryptocurrency

Published:

2025-11-07 06:25:02

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BTCCSquare news:

Japan's Financial Services Agency (FSA) has thrown its weight behind a groundbreaking stablecoin pilot involving Mizuho Bank, MUFG, and SMBC. The initiative, set to launch in November 2025, aims to redefine digital payments by classifying stablecoins as electronic payment instruments.

A consortium including Mitsubishi Corporation and Progmat Inc. will test cross-bank stablecoin issuance frameworks. Regulatory compliance takes center stage, with findings to be published transparently on the FSA's website. This marks the first project under the FSA's Payment Innovation Project (PIP), potentially setting new benchmarks for Japan's financial infrastructure.

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