Japan’s three largest banks – Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group – are planning to jointly issue stablecoins, according to a report by the Nikkei business daily on Friday (today).
Japan has been taking structured steps to regulate and expand the use of stablecoins. Earlier this year, the Financial Services Agency granted approval to SBI VC Trade to list Circle’s USDC, making it the first foreign dollar-backed stablecoin legally available in the country.
Digital assets meet tradfi in London at the fmls25
Yen Pegged Stablecoins Target Settlement Efficiency
The digital currencies will be pegged to real-world assets, starting with the Japanese yen. The banks are reportedly developing a shared framework that will allow corporate clients to transfer stablecoins between institutions under consistent technical and regulatory standards.
????????JAPANESE BANKS UNITE TO LAUNCH STABLECOIN!Japan’s top 3 banks — MUFG, Sumitomo Mitsui & Mizuho — are teaming up to launch a new stablecoin pegged to both the yen and the US dollar. pic.twitter.com/bplA7tzHrw
— Coin Bureau (@coinbureau) October 17, 2025
The initiative is aimed at improving settlement efficiency and supporting the adoption of blockchain-based payments within Japan’s financial system. The report added that a U.S. dollar-pegged stablecoin could be introduced later.
Japanese Investors Show Growing Interest in Digital Assets
Over half of Japanese institutional investors plan to invest in digital assets within the next three years, according to a survey by Nomura Holdings and its subsidiary Laser Digital.
Nomura and @LaserDigital_ conducted a survey of over 500 investment managers in Japan on investment trends and intentions towards digital assets, and issues when considering investing in crypto assets. Click here for the full survey results: https://t.co/bJ5iDnjWqP pic.twitter.com/5BT89QWBWw
— Nomura (@Nomura) June 24, 2024
The study, which polled over 500 investment managers from institutions, family offices, and public-service corporations, found that 54% intend to allocate funds to crypto assets. Many view digital assets as a diversification opportunity, with typical allocations of 2–5% of assets under management.
Interest also extends to Web3 projects. Barriers include volatility, counterparty risks, and regulatory concerns. The findings align with Japan’s ongoing push to support regulated digital asset innovation.
This article was written by Tareq Sikder at www.financemagnates.com.
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