Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Japan launches a pilot project for the issuance of a yen-backed stablecoin in collaboration with several banks.

robot
Abstract generation in progress

The Financial Services Agency of Japan (FSA) has announced support for a pilot project jointly issued by the three largest banks in the country — MUFG, SMBC, and Mizuho — of a stablecoin backed by the yen. This is the first project under the Payment Innovation Program (PIP), aimed at testing the legality and operational efficiency of stablecoin issuance by multiple banks.

The goal is to create a foundation for the digital payment system of the future, ensuring that the digital yen is managed, monitored, and securely compatible across financial platforms. The experiment is expected to start in November 2025, marking an important step for Japan in integrating blockchain technology into the regulated banking system.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)