Japan’s three largest banks are exploring a shared stablecoin pegged to the Yen. MFUG, Sumitomo Mitsui, and Mizuho plan to enter the stablecoins market amid regulatory clarity. Details on the Yen-pegged stablecoin have not been officially released but it is expected to be interoperable. Japan’s top three banks have united to launch a Yen-pegged stablecoin. A Friday report from Nikkei revealed that Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group, and Mizuho Financial Group are planning to launch a stablecoin pegged to the Japanese Yen to modernize their payment system. Key Details of the Stablecoin To Be Issued By MUFG According to the report , the joint venture to launch a Yen-pegged stablecoin is geared towards enhancing value transfer between their corporate clients. The joint venture will also potentially launch a U.S. dollar pegged … Read The Full Article Japan’s Top 3 Banks Led By MUFG Unite to Unveil Local Stablecoin On Coin Edition .