Mizuho, MUFG and SMBC Finish Joint Yen Stablecoin Trial
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Japan’s Mizuho, MUFG and SMBC completed a yen stablecoin pilot involving Mitsubishi Corporation, with commercial transactions targeted for fiscal 2026.
Mizuho, MUFG and SMBC have completed a joint pilot for a yen-denominated stablecoin, according to The Defiant.
The July trial tested issuance, transfers and redemption for Mitsubishi Corporation, covering the stablecoin’s core transaction processes.
The three banks are targeting commercial transactions in fiscal 2026. The completed pilot marks a testing stage ahead of that planned activity.
Source: The Defiant
