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Japan Sees Top Banks Plan Stablecoin Issuance
Three large banks in Japan progress plans to issue joint stablecoin next year, showing stablecoin adoption in the region.
Japan is growing its stablecoin exposure (Yanhao Fang / Unsplash)
Japan will soon have its own bank-issued stablecoin.
The country will see several large banks, including Mizuho Bank, MUFG Bank, and Sumimoto Mitsui Banking Corporation continue to work together on officially issuing a joint Yen-backed stablecoin planned for end of 2026/early 2027.
The report from Nikkei had also explained that the project will likely include the launch of a stablecoin council to assist with the rollout and work within the regulatory guidance of the country's domestic regulator, the FSA (Financial Services Agency). This progresses the early announcement from October of last year.
Recently, Japan has seen more momentum to build out its stablecoin ecosystem for both users and financial institutions.
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