Latest FSA supports three megabanks in issuing joint stablecoin project in Cryptocurrency

Blockchain technology Home » Regulation » FSA supports three megabanks in issuing joint stablecoin project Japan’s major banks collaborate on blockchain payments as regulatory approval clears path for stablecoin use in international commerce. Key Takeaways Japan’s Financial Services Agency (FSA) has endorsed a stablecoin initiative involving the country’s three biggest banks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The project will create a common framework for issuing and transferring stablecoins, with an initial focus on tokens backed by the Japanese yen and potentially the US dollar. Share this article Japan’s Financial Services Agency (FSA) today endorsed a joint stablecoin initiative by the country’s three largest banks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The three megabanks are developing a shared framework for issuing and transferring stablecoins designed for cross-border transactions. The initiative includes plans for digital assets backed by the Japanese yen and potentially the US dollar. The stablecoin system will use blockchain technology to accelerate corporate payments and settlements. Mitsubishi Corporation is positioned as the first participant to apply the stablecoin for real-world commercial use. Disclaimer Trending News Ripple President Monica Long outlines XRP Ledger’s next phase with lending protocol and stablecoin expansion Business Nov. 4, 2025 BlackRock deposits 1,198 Bitcoin and 15,121 Ether into Coinbase Markets Nov. 3, 2025 Franklin Templeton updates XRP ETF filing, aiming for launch this month Ecosystem Nov. 4, 2025 BingX AI Arena debuts, bringing competitive AI trading in copy trading Press Release Nov. 7, 2025 MEXC lists Canton Network (CC) with zero-fee trading and 333,433 CC & 25,000 USDT airdrop+ rewards Press Release Nov. 7, 2025 Trending News Ripple President Monica Long outlines XRP Ledger’s next phase with lending protocol and stablecoin expansion Business Nov. 4, 2025 BlackRock deposits 1,198 Bitcoin and 15,121 Ether into Coinbase Markets Nov. 3, 2025 Franklin Templeton updates XRP ETF filing, aiming for launch this month Ecosystem Nov. 4, 2025 BingX AI Arena debuts, bringing competitive AI trading in copy trading Press Release Nov. 7, 2025 MEXC lists Canton Network (CC) with zero-fee trading and 333,433 CC & 25,000 USDT airdrop+ rewards Press Release Nov. 7, 2025 © Decentral Media and Crypto Briefing® 2025. About Us Advertising Team Disclaimer Login Sign Up Sign in to your account Forgot Password? Sign In or Continue with Google Don’t have an account? Create one Create your account CryptoBriefing may send me offers and promotions. I accept Terms and Conditions / Privacy Policy Create account or Continue with Google Already have an account? Sign In Forgot your password?Please enter your email address. You will receive a link to create a new password via email. Email Reset Link Sign In ?  » …

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Carla Contass

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