Japan’s Largest Banks Plan Joint Stablecoin Launch by March 2027

In brief

• Japan’s MUFG Bank, Mizuho Bank, and SMBC have established a council to develop operational frameworks for stablecoin issuance.
• The banks plan to launch a jointly issued stablecoin by the end of the 2026 fiscal year.
• The collaboration comes on the heels of a wave of institutional…