Japan Banks Plan Yen-Pegged Stablecoin Launch by 2025
NewsJapan’s major banks, MUFG, SMBC, and Mizuho, announce plans for a yen-pegged stablecoin by 2025.
- Japan’s major banks to launch yen stablecoin by 2025.
- Significant move in payments modernization.
- Potentially impacts over 300,000 corporate clients.
Japan’s three mega-banks, MUFG, SMBC, and Mizuho, announced plans to launch a yen-pegged stablecoin on MUFG’s Progmat platform, targeting late 2025 for deployment across corporate clients.
This initiative signifies a potential shift towards digitized banking in Japan, enhancing payment efficiency for over 300,000 businesses while bolstering blockchain adoption on Ethereum, Polygon, and Avalanche.
Japan’s three major banks are collaborating to release a yen-pegged stablecoin by 2025. This partnership, including MUFG, SMBC, and Mizuho banks, aims to modernize financial transactions and expand their reach into cross-border payment solutions.
MUFG’s Progmat platform will host the new stablecoin initiative. This platform supports issuance on major blockchains like Ethereum and Polygon. The joint effort targets over 300,000 corporate clients to improve efficiency in business and financial settlements.
The announcement promises enhanced payment modernization for businesses in Japan and abroad. This development aligns with increased demand for efficient digital transactions. Stakeholders anticipate key shifts in how cross-border payments are facilitated.
The collaboration marks a significant step in financial innovation, focusing on corporate and business-to-business settlements. MUFG’s regulatory-compliant approach strengthens the potential impact on existing financial frameworks and cross-border transactions.
The initiative reflects a broader trend towards digitalization within the banking sector. Business communities, including clients of over 300,000 corporate accounts, await potential benefits from this stablecoin integration. Takeshi Chino, General Manager, Binance Japan, stated, “Stablecoins are crucial for the broader financial ecosystem and … are vital for Web3 adoption.”
Potential impacts include regulatory adaptations by Japan’s Financial Services Agency and increased blockchain activity. Historical cases, like JP Morgan’s stablecoin, illustrate how such efforts can support both internal and external financial operations. Over 300,000 corporate clients are set to be connected through the three banks’ networks, highlighting the scale of the initiative.
More From Crypto News
Aster (ASTER) Rises 4.88% in 24 Hours: What the Data Shows
Aster (ASTER) is trading at $0.655837, up 4.88% over the past 24 hours, according to CoinGecko data as of 19:13 UTC on November 11, 2026.
Bitcoin Misses Stock Rebound as ETF Outflows Hit Day Four
Bitcoin failed to follow a broad equity rebound on November 11, trading near $73,993 while Nasdaq-100 futures climbed 1.7% after CoreWeave posted an earnings be...
OCC Clears Coinbase National Trust Company for Crypto Custody
The OCC issued its decision in CD-1370 , formally authorizing Coinbase National Trust Company to operate as a federally chartered trust bank focused on digital-...
Reported Ankr Ethereum Bridge Drain Exceeds $303,000, The Defiant Says
The Ankr Ethereum Bridge was drained of more than $303,000 in an exploit carried out across five transactions.
Binance CFO Steps Down After Reported Hack, Co-CEO Cites Planned Transition
Binance’s chief financial officer has stepped down, the exchange confirmed, with the departure landing nine days after the platform suffered what has been descr...
US Treasury Takes Action Against MEXC Over Alleged $16B in Sanctions-Linked Transactions
The Treasury press release identifies MEXC as the subject of the action and ties the exchange to transaction flows connected to three sanctioned or adversarial...
