Japan's three largest banks plan to jointly issue a stablecoin by 2026

BlockBeats News, June 9th - According to Nikkei News, Japan's three largest banks plan to jointly issue a stablecoin pegged to the national currency within the fiscal year 2026. They have established a coordination mechanism to advance the design of applications and operations in real transaction scenarios.

Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank are expected to soon sign a basic agreement. Since November 2025, the three banks have been conducting joint pilot experiments under the guidance of the Japanese Financial Services Agency (FSA) to prepare for the issuance of the stablecoin.

In the future, the coordinating committee will continue to promote the practical application and commercialization of the stablecoin based on relevant laws and regulations and market development trends.