Japan’s Three Megabanks Confirm Shared Yen Stablecoin Works in Pilot Trial
Key Highlights: A consortium of five Japanese institutions successfully tested cross-border settlement using a joint, bank deposit-backed yen stablecoin model between July 17 and 23. The pilot focused on corporate payments between Mitsubishi Corporation’s domestic and overseas bases, confirming the technical safety and feasibility of a multi-trustor issuance scheme. Participating banks are targeting a live ...