News
Japan's three megabanks plan a joint yen stablecoin
Bottom line: Japan's biggest banks line up behind a yen stablecoin
On 2026-06-10 Japan's three megabanks — MUFG Bank, SMBC and Mizuho — signed a memorandum to form a council toward a jointly issued yen stablecoin. Reporting describes a trust-based model on shared infrastructure (Progmat), targeting live transactions within FY2026 (through March 2027).
Key points
- Three megabanks signed a memorandum toward a joint yen stablecoin (2026-06-10).
- Trust-based issuance on shared rails; aims for live use within FY2026.
- Goal: faster, 24/7 settlement and more efficient corporate payments.
Why it matters
A bank-issued, trust-backed yen stablecoin pairs the reach of Japan's largest banks with reserve protection via trust — a credible path to regulated yen settlement, alongside players like JPYC.
Memorandum stage
This is a memorandum, not a launched product. Timing and design will be finalized later.
FAQ
Q. Can I use it now? A. No — it's at the memorandum stage; live use is targeted within FY2026.
Q. Will it rise in price? A. No — a stablecoin aims to hold its value pegged to the yen.
Sources
Not financial advice
This reflects publicly reported information as of June 2026 and is not investment advice. Rules, company moves and prices can change — confirm the latest with official sources.
This article is informational only and is not financial, investment, or trading advice. Prices are reference snapshots and may be outdated. Always do your own research.
