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Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho—Japan’s three major banks—plan to jointly issue a stablecoin by the end of fiscal year 2026.
According to the Nikkei, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, and Mizuho Bank plan to jointly issue a fiat-backed stablecoin by fiscal year 2026. The three banks will soon reach a basic agreement and establish a consultation committee to discuss specific operational methods. Previously, since November 2025, the three banks have jointly conducted a proof-of-concept experiment on stablecoin issuance with Japan’s Financial Services Agency (FSA); the consultation committee will further advance practical research by incorporating relevant regulations and market trends.
Japan's Three Major Banks to Jointly Issue Stablecoin by Fiscal Year 2026
Odaily Odaily News: MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank plan to jointly issue a fiat-pegged stablecoin by fiscal year 2026. They will establish a dedicated discussion group to explore practical business applications and operational mechanisms. The three banks are close to reaching a basic agreement. Since November 2025, the three banks have been conducting joint stablecoin issuance pilot tests under the support of Japan's Financial Services Agency. (Nikkei)
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Japan’s Liberal Democratic Party Pushes for Cryptocurrency ETF Legalization and Promotion of Yen-Backed Stablecoins in Asia
According to Cryptopolitan, Japan’s Liberal Democratic Party (LDP) Blockchain Promotion Group recently submitted a proposal to Finance Minister Kayoko Shiozawa, calling for the establishment of a legal framework for cryptocurrency ETF trading and promoting the yen-pegged stablecoin as a payment instrument in Asian markets. The proposal states that cryptocurrency ETFs are easier to operate than direct holdings of crypto assets and should receive formal recognition in the Japanese market. Meanwhile, LDP member Junichi Kanda expressed hopes of promoting the yen-pegged stablecoin policy during the 2027 Asian Development Bank Annual Meeting, which will be hosted in Tokyo. Currently, Japanese startup JPYC launched Japan’s first licensed yen-pegged stablecoin in October 2025, while Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, and Mizuho Financial Group have jointly initiated a stablecoin pilot project. Previously, Japan’s Cabinet approved reclassifying cryptocurrencies as financial products, laying the groundwork for implementing the ETF framework.
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SoftBank, NEC, Honda, and Sony Group jointly establish a Japanese domestic AI foundation model development company
According to Jiji Press, SoftBank, NEC, Honda, and Sony Group have jointly established a new company named “Japan AI Foundation Model Development,” aiming to advance the development of domestically produced AI foundation models. The company plans to assemble approximately 100 AI developers, with its president appointed from SoftBank’s executive ranks. In addition to the four founding companies, Nippon Steel, Kobe Steel, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, and Mizuho Bank are also participating as investors. SoftBank and NEC will lead development efforts, while Honda will apply the outcomes in autonomous driving. Preferred Networks is also involved. The company intends to widely open access to its AI technologies to Japanese enterprises beyond its investors and expand into robotics AI. If selected by Japan’s New Energy and Industrial Technology Development Organization (NEDO), the company expects to receive ¥1 trillion (approximately RMB 43 billion) in government support over five years starting in fiscal year 2026.
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