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FSA Approves Three Japanese Megabanks' Joint Stablecoin Project
ByAinvest
Thursday, Nov 6, 2025 11:10 pm ET1min read
Japan's Financial Services Agency (FSA) has endorsed a joint stablecoin initiative by the country's three largest banks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The megabanks are developing a shared framework for issuing and transferring stablecoins designed for cross-border transactions, including digital assets backed by the Japanese yen and potentially the US dollar.
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