Japans Big Three Banking Titans Unite to Launch Yen-Pegged Stablecoin

Three of Japans largest banks-Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMFG), and Mizuho Financial Group-are joining forces to issue a stablecoin pegged to the Japanese yen, according to an exclusive published by Nikkei Asia. Japans Top Banks Plan Stablecoin to Digitize Corporate Settlements The Nikkei Asia report notes that the trios initiative []