Japan’s Banking Giants Unite for Yen Stablecoin Launch

Three of Japan’s largest banks said they will jointly issue a stablecoin this financial year, which ends in March. Mitsubishi UFJ Financial Group (MUFG), Sumitomo ⁠Mitsui Financial Group (SMBC) and Mizuho Financial Group will establish a council to explore operational frameworks and prepare for the issuance of stablecoins, according to