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Japan's Three Major Banks Complete Joint Pilot for Yen Stablecoin, Validating Full Cross-Border Payment Workflow
Japan's Mizuho Bank, Mitsubishi UFJ Bank (MUFG), and Sumitomo Mitsui Banking Corporation (SMBC), together with Mitsubishi UFJ Trust and Banking Corporation and TISI, have completed a yen stablecoin pilot.The test used Mitsubishi Corporation's business locations in Japan and overseas as cross-border payment scenarios, successfully validating the issuance, transfer, and redemption processes of the yen stablecoin, providing technical validation for the application of stablecoins in corporate cross-border payments. (The Block)
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MUFG Trust & Bank and Other Banks Complete Stablecoin and Cross-Border Payment Pilot
According to an official announcement from Mitsubishi UFJ Trust and Banking Corporation, in collaboration with Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, The Mizuho Bank, and TISI Co., Ltd., it completed a pilot experiment from July 17 to 23, 2026, regarding the joint issuance of Japanese yen stablecoins and the optimization of cross-border payments. Supported by the Financial Services Agency's "Fintech Pilot Hub・Payment Advancement Project," the experiment verified the feasibility of a multi-bank co-issuance model for stablecoins and explored the application potential of blockchain technology in international remittances and intercompany payments. The experimental results demonstrate that stablecoin issuance and circulation are operationally viable, providing significant reference for the future societal implementation of digital payment services and blockchain financial assets.
9 Japanese institutions complete Phase 2 validation of Project Trinity, achieving T+2 feasibility for cross-chain DvP synchronized settlement
Odaily News: Nine Japanese institutions, including Sumitomo Mitsui Banking Corporation, Daiwa Securities, SBI Securities, Progmat, and Datachain, have announced the completion of Phase 2 validation of "Project Trinity." The project aims to eliminate settlement desynchronization risks through Delivery versus Payment (DvP).During the testing, Daiwa Securities and SBI Securities simulated the START market of the Osaka Digital Exchange (ODX), using ST corporate bonds issued by SBI VC Trade and trust-type stablecoins issued by Sumitomo Mitsui Banking Corporation to complete two cross-chain synchronized settlements, thereby validating the feasibility of the T+2 settlement cycle at this stage. (Nada News)
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Japan's Financial Services Agency supports stablecoin trade settlement pilot, expected to launch in September 2026
Odaily reports: The Financial Services Agency of Japan (FSA) has announced that its fintech proof-of-concept hub, the "Payment Advancement Project," will support its fourth case, with applicants including TradeWaltz, NTT DATA, Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mitsubishi UFJ Trust and Banking Corporation.The pilot is scheduled to begin in September 2026, aiming to verify practical approaches to using stablecoins for trade transaction fund settlement and to identify relevant legal issues. After the experiment concludes, the FSA will publish on its official website the results and conclusions on topics including compliance and regulatory responses, as well as legal interpretations for providing services to general users.
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SoftBank Secures $10 Billion Margin Loan Using OpenAI Shares as Collateral
According to Bloomberg, SoftBank Group (SoftBank) has successfully secured a $10 billion margin loan by pledging its OpenAI shares as collateral. The loan has a two-year term, and lenders include Goldman Sachs, JPMorgan Chase, Mizuho Securities, Apollo Global Funding, and SMBC. SoftBank plans to complete the drawdown this month.
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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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