Japanese Financial Giants Initiate Stablecoin Trial for Stock and Fund Transactions

Five major Japanese financial institutions, including Mizuho Financial Group and Mitsubishi UFJ Financial Group, announced last Friday, the 13th, the launch of a stablecoin trial. According to Ming Pao, this initiative, starting this month, aims to use stablecoins for trading stocks and funds. The trial will assess the mechanisms required for this service and address related issues. Other participants in the trial include Sumitomo Mitsui Financial Group, Nomura Securities, and Daiwa Securities.