Japan's three major banks team up to develop stablecoins, with on-chain transactions starting in 2026.

Coin World News: Japan’s three major banking groups—Mitsubishi UFJ Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation (SMBC)—plan to begin using jointly issued stablecoins for commercial transactions starting in the 2026 fiscal year. The stablecoin will be issued through a trust structure, with the three banks serving as joint founders and the trust institution serving as the trustee. This move has received support from Japan’s Financial Services Agency and is being developed under the Fintech Proof of Concept Center. The project is intended to support a range of future application scenarios and could become an important part of Japan’s digital payments infrastructure.