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Japan’s Megabanks Secure FSA Approval for Joint Stablecoin Initiative

Japan’s Megabanks Secure FSA Approval for Joint Stablecoin Initiative

Author:

Global Cryptocurrency

Published:

2025-11-08 04:21:01

16

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BTCCSquare news:

Japan's financial landscape takes a decisive step into digital assets as Mitsubishi UFJ, Mizuho, and Sumitomo Mitsui receive regulatory approval for a collaborative stablecoin project. The Financial Services Agency's greenlight enables proof-of-concept development for yen-pegged stablecoins and cross-border payment infrastructure, with MUFG's Progmat platform providing technical scaffolding.

The initiative follows JPYC's recent launch of Japan's first yen-backed stablecoin, signaling accelerating institutional adoption. Unlike speculative cryptocurrencies, these bank-issued tokens derive stability from fiat reserves—a model gaining global traction as bridges between traditional finance and blockchain networks.

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