Japan’s three megabanks plan to jointly issue a stablecoin in 2026

By Vivian Nguyen · Published June 10, 2026 · 1 min read · Source: Crypto Briefing

Japan’s three megabanks plan to jointly issue a stablecoin in 2026

Japan's top three lenders are moving deeper into digital payments.

Add us on Google by Vivian Nguyen Jun. 10, 2026

Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank, the three biggest banks in Japan by assets, are working toward a shared fiat-pegged stablecoin launch targeted for fiscal 2026, according to Nikkei.

The three lenders are expected to finalize a basic agreement and create a council to oversee the project’s operational structure.

The initiative is part of an ongoing push into blockchain-based payments. MUFG has been active in tokenized assets and web3 initiatives, while SMBC is partnering with blockchain firms to build a compliant stablecoin payment infrastructure.

The banks have been testing the concept through a pilot program with the Financial Services Agency since November 2025.

As the initiative advances, the council will assess operational models, legal requirements, and market developments before moving toward full-scale trading and adoption.

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