smfg

Japan Megabanks Launch Joint Stablecoin by 2026, Challenging USDT/USDC

Three Japanese financial titans – MUFG, SMFG, and Mizuho – are teaming up to launch a jointly operated stablecoin. This isn't some retail fantasy; they're targeting corporate clients first, leveraging their massive enterprise customer base. Expect a yen-pegged token by the end of fiscal year 2026, with a dollar version to follow, all running on MUFG's Progmat DLT platform.

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