Japan’s Three Biggest Banks Are Building a Shared Stablecoin

Mitsubishi UFJ Financial Group, Mizuho, and SMBC, Japan’s three largest banks collectively managing trillions in assets, launched a joint proof-of-concept for a unified stablecoin framework on March 5, 2026, in the first initiative granted Payment Innovation Project status by Japan’s Financial Services Agency. source: https://www.ethnews.com/japans-three-biggest-banks-are-building-a-shared-stablecoin/