Japan’s top banks join forces to issue first yen-pegged stablecoin: report

Posted On October 17, 2025

Japan’s largest financial institutions have joined forces to launch a stablecoin pegged to the yen and US dollar, aiming to revolutionize cross-border payments and streamline financial processes. Japan’s leading financial institutions, Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group…