Japan’s Three Largest Banks Complete Joint Yen Stablecoin Trial

TL;DR Japan’s three largest banks successfully completed a joint yen stablecoin trial using a trust-based structure for cross-border corporate payments between Mitsubishi Corporation locations in July. The pilot tested issuance, transfer, redemption, AML/CFT controls, regulatory compliance and system operations, confirming technical feasibility without launching a commercial product. The banks plan further implementation work toward actual transactions during fiscal 2026, while exploring deposit-backed circulation among verified users and broader onchain financial infrastructure. Japan’s three largest banks have completed a joint trial of a yen-denominated stablecoin designed for cross-border corporate payments. According to the official announcement , Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation ran the test from July 17 to July 23 with Mitsubishi UFJ Trust and Banking Corporation and TISI.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Economy.