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Events / Business / Japan Megabanks Jointly Issue Stablecoin
Business stablecoin issuance

Japan Megabanks Jointly Issue Stablecoin

Analysis based on 8 articles · First reported Jun 10, 2026 · Last updated Jun 11, 2026

Sentiment
50
Attention
6
Articles
8
Market Impact
Direct
Live prominence charts, article sentiment distribution, and event development timeline available on the NewsDesk Dashboard
Market Impact

The joint issuance of a yen-backed stablecoin by Japan's three megabanks is expected to significantly boost the adoption of digital assets in the country, potentially reducing transaction costs and facilitating faster international remittances. This development could increase the demand for the Japan — Japanese yen in digital markets and create new opportunities for financial institutions and fintech companies in Japan.

Financial Services Cryptocurrency Banking
Event Summary

Japan's three largest banks, MUFG (MUFG), SMBC Group (SMBC), and Mizuho Financial Group, announced plans to jointly issue a stablecoin linked to currencies such as the Japan — Japanese yen and the United States during the financial year ending March 2027. The banks will establish a council to develop operational frameworks and governance for the stablecoin, which will be issued under a trust agreement. This initiative follows successful demonstration experiments supported by the Japan — Financial Services Agency since November 2025, and aligns with the Japan — List of Liberal Democratic parties's push to promote yen-based stablecoins. The stablecoin aims to facilitate faster and cheaper international remittances and payments, and will initially be used for settling purchases of stocks, bonds, and investment trust funds at selected brokerages like Nomura Holdings — Nomura Securities and Daiwa Securities Group. This move reflects growing momentum in Japan's stablecoin market, with other players like JPYC Inc., Nubank, and Japan Blockchain Foundation also launching or planning yen-pegged stablecoins.

Key Actions
80 MUFG will jointly issue
80 SMBC Group will jointly issue
80 Mizuho Financial Group will jointly issue
70 Japan — Financial Services Agency signaled support
60 MUFG conducted demonstration experiments
60 SMBC Group conducted demonstration experiments
60 Mizuho Financial Group conducted demonstration experiments
40 Japan — List of Liberal Democratic parties said promote usage
30 JPYC announced launch
20 Nubank unveiled JPYSC
20 Japan Blockchain Foundation said would issue
Entities Involved
stock
MUFG
MUFG, through its subsidiary MUFG Bank, is a key participant in the joint stablecoin issuance, aiming to expand its digital payment offerings and potentially reduce transaction costs for its clients.
Importance 90 Sentiment 40
stock
SMBC Group
SMBC Group, via Sumitomo Mitsui Banking Corp., is a core partner in the stablecoin project, contributing to the development of operational frameworks and governance for the new digital asset.
Importance 90 Sentiment 40
stock
Mizuho Financial Group
Mizuho Financial Group, through Mizuho Bank, is a central figure in the joint stablecoin initiative, working to establish a council and prepare for the issuance of yen-backed stablecoins.
Importance 90 Sentiment 40
govactor
Japan — Financial Services Agency
The Japan — Financial Services Agency has supported the banks' stablecoin initiative since November 2025, providing regulatory backing and ensuring the project aligns with existing financial regulations.
Importance 70 Sentiment 30
curr
Japan — Japanese yen
The Japan — Japanese yen is the primary fiat currency to which the new stablecoin will be pegged, aiming to increase its usage in digital transactions and potentially enhance its international standing in the crypto market.
Importance 60 Sentiment 30
polparty
Japan — List of Liberal Democratic parties
The Japan — List of Liberal Democratic parties has expressed support for promoting the usage of yen-based stablecoins, indicating a favorable political environment for the project.
Importance 40 Sentiment 20
crypto
JPYC
JPYC Inc. is identified as a leader in introducing yen-denominated stablecoins in Japan, with its JPYC token having a notable market cap, serving as a benchmark for the new joint stablecoin.
Importance 30 Sentiment 10
cnt
United States
The United States is mentioned as a currency to which the stablecoin may also be linked, though the primary focus is on the Japan — Japanese yen.
Importance 20 Sentiment 10
stock
Nubank
Nubank, along with Startale Group, unveiled JPYSC, a trust bank-backed yen stablecoin, indicating other players are also active in the Japanese stablecoin market.
Importance 20 Sentiment 10
priv
Startale Group
Startale Group, in collaboration with Nubank, launched JPYSC, contributing to the growing landscape of yen-denominated stablecoins.
Importance 20 Sentiment 10
ngo
Japan Blockchain Foundation
Japan Blockchain Foundation announced its plan to issue EJPY, another yen-pegged stablecoin, further demonstrating the increasing interest and development in the Japanese stablecoin sector.
Importance 20 Sentiment 10
subs
Nomura Holdings — Nomura Securities
Nomura Holdings — Nomura Securities is one of the initial brokerages trialing the stablecoin system, suggesting early adoption and potential for broader use in securities settlement.
Importance 20 Sentiment 10
stock
Daiwa Securities Group
Daiwa Securities Group is among the brokerages participating in the stablecoin trials, indicating its involvement in exploring digital asset settlements.
Importance 20 Sentiment 10
crypto
Tether (cryptocurrency)
Tether (cryptocurrency)'s USDT is noted as a dominant U.S. dollar-pegged stablecoin, providing context for the current market landscape that the Japanese banks aim to enter.
Importance 10 Sentiment 0
priv
Circle Internet Group
Circle Internet Group's USDC is highlighted as another major U.S. dollar-pegged stablecoin, illustrating the existing market dominance of dollar-backed tokens.
Importance 10 Sentiment 0
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