According to CoinDesk, Japan's Financial Services Agency announced today that it will support the empirical experiment of stablecoin co-issuance involving three major banks, including Mitsubishi UFJ Bank, Sumitomo Mitsui Bank, and Mizuho Bank.
According to the FSA announcement, this empirical experiment will serve as the first supporting case for the newly established "Payment Innovation Project" (PIP), which aims to promote innovation in the payment sector.
In addition to the three major banks, the institutions applying to participate in the project include: Mitsubishi Corporation (as a business participating company), Progmat (providing issuance infrastructure), and Mitsubishi UFJ Trust Bank (expected to be responsible for the trust function).
Japan's Financial Services Agency will support three major banks in jointly issuing stablecoins
2025-11-07 02:56:54
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