Market Chatter: Japan's Three Top Banks Plan Joint Stablecoin Issuance by March 2027

MT Newswires Live
Jun 10

Three of the largest banks in Japan, Mitsubishi UFJ Financial Group (TYO:8306), Sumitomo ⁠Mitsui Financial Group (TYO:8316), and Mizuho Financial Group (TYO:8411), are poised to form a consortium to issue a jointly operated stablecoin in the current fiscal year ending in March 2027, according to a Reuters report on Wednesday, citing a joint statement from the banks.

The lenders plan to ​establish a council to review operational frameworks and prepare for the issuance, the report said.

Japan's Financial Services Agency has been operating a regulatory pilot since November 2025, as part of the country's ​efforts to use blockchain technology for better payment systems.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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