In brief

Japan’s three megabanks conclude joint yen stablecoin pilot… applying it to cross-border payments

Token issued under Japan’s Payment Services Act… backed by bank deposits and limited to KYC-verified users

Pilot verifies the full process of issuance, transfer, and redemption… confirming the safety and reliability of multi-bank issuance

Read the original article by Luis Blanco on kr.beincrypto.com: Japanese megabanks end yen stablecoin pilot… move toward real-world transactions