Multiple Japanese Banks Jointly Conduct Proof-of-Concept Experiment for Joint Stablecoin Issuance and Cross-Border Payments
Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Trust and Banking Corporation, and TISI Corporation announced that they conducted a proof-of-concept experiment from July 17 to 23, 2026, focusing on multi-bank joint stablecoin issuance and leveraging such stablecoins to upgrade cross-border payment infrastructure. In this experiment, three banks acted as joint principals, while Mitsubishi UFJ Trust and Banking Corporation served as the trustee to issue the stablecoin, and verified the full workflows of stablecoin issuance, transfer, and redemption for cross-border settlements between Mitsubishi Corporation's Japanese and overseas locations. The results demonstrate that practical operational knowledge for stablecoin issuance and circulation has been accumulated, system security and reliability have been validated, and the multi-bank joint issuance model is technically and operationally feasible.
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