Mizuho, MUFG and SMBC publish results of joint yen stablecoin pilot
Japan's three megabanks—Mizuho, MUFG, and SMBC—announced they completed a joint pilot in July testing a yen-based stablecoin for cross-border payments, covering issuance, transfer, and redemption for Mitsubishi Corporation. The banks are targeting commercial transactions in fiscal 2026.
