Japan’s Big Three Banks Test Joint Yen Stablecoin for Cross-Border Payments

Japan’s three largest banks have completed a joint trial of a yen-based stablecoin, confirming the feasibility of a model designed to support cross-border payments between businesses. Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation (SMBC) conducted the proof of concept from July 17 to July 23, with the results