Japan Megabanks Complete First Joint Yen Stablecoin Trials

Key Facts

1Japan's largest megabanks (MUFG, Mizuho, and SMBC) successfully completed the first joint trials of a yen-denominated stablecoin.

Japan's largest megabanks MUFG, Mizuho, and SMBC successfully completed the first joint trials of a yen-denominated stablecoin. According to u.today, these major financial institutions, alongside Mitsubishi UFJ Trust and TISI Inc., concluded testing of a unified yen-pegged stablecoin system.

The banks are seeking to modernize payment infrastructure and improve cross-bank settlement efficiency using blockchain technology. Regarding related instruments, MSBHF closed at $29.8 on October 15, 2026, after reaching a day high of $29.95 and a low of $29.44.