Minna Bank Launches Stablecoin Project With Fireblocks, Solana Japan, TIS Inc

Minna Bank, Japan’s first fully digital native bank, has announced a significant project in collaboration with Fireblocks, Solana Japan, and TIS Inc. The initiative aims to launch a stablecoin issuance technology verification project, focusing on the stability and practicality of stablecoins in daily payments, purchasing real-world assets (RWAs), and Web3 wallets.

The project is part of Minna Bank's broader strategy to integrate stablecoins into everyday life, making financial transactions more efficient and cost-effective. By partnering with Fireblocks, Solana Japan, and TIS Inc, the bank aims to explore the technical and practical aspects of stablecoins, ensuring they can be seamlessly used for simple payments, trading, and new digital services.

Stablecoins have gained global popularity due to their ease and speed in transferring money without the high fees typically associated with traditional banking. The market size of stablecoins has exceeded 250 billion dollars worldwide, with banks in various countries transitioning from small pilot usages to larger implementations. This shift is driven by the desire to increase the speed and decrease the cost of cross-border payments, as well as to explore new on-chain payment settlement methods.

Japan, known for its cautious approach to cryptocurrencies, has seen a growing interest and regulatory clarity that is opening new opportunities. Minna Bank's new project aligns with this trend, positioning Japan to follow global trends and potentially lead in the stablecoin field. Michael Shaulov, the Co-Founder and Executive of Fireblocks, highlighted that stablecoins are transforming digital money flows. He expressed optimism that the collaboration with Minna Bank will identify solutions to benefit Japanese customers and businesses, enhancing their financial services.

Minna Bank is already a pioneer in digital banking, being the first bank globally to adopt a completely cloud-based core banking framework. This cloud-native approach eliminates reliance on outdated and costly IT systems, ensuring quick, secure, and easily updatable services. The bank operates 24/7 with a user-friendly interface, catering to a customer base where over 70% are between 15 and 39 years old. This demographic often finds traditional banking services inadequate, and Minna Bank aims to revolutionize this by integrating banking into daily life.

The new stablecoin initiative aligns with Minna Bank's vision of merging banking and daily expenditure. By leveraging the expertise of partners like Fireblocks, Solana Japan, and TIS, the bank aims to develop new services that are both useful and user-friendly. Japan's entry into the stablecoin race, backed by clear regulations, could attract more cryptocurrency projects. This project may mark the beginning of stablecoins becoming a mainstream part of banking, potentially setting a global standard for digital financial services.