Wednesday, 10 June, 2026
Crypto in Cash Country: Japan’s Megabanks to Launch Joint Stablecoin
By TechShots Studio
Japan’s three megabanks—Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho—will jointly issue a fiat-backed stablecoin by March 2027. Backed by the Financial Services Agency, the institutions are building a unified blockchain infrastructure rather than separate tokens. Managing over $7 trillion in combined assets, this historic traditional finance initiative aims to modernize cross-border settlements and accelerate digital payments in Japan’s cash-dominant economy.