Multiple Japanese banks jointly conduct proof-of-concept experiments for joint stablecoin issuance and cross-border payments.

PANews October 16 news: Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Trust and Banking Corporation, and TISI Co., Ltd. announced that from July 17 to 23, 2026, they conducted a proof-of-concept experiment in which multiple banks jointly issued a stablecoin and used it to upgrade cross-border payments. In this experiment, the three banks served as joint principals and Mitsubishi UFJ Trust and Banking Corporation served as trustee to issue the stablecoin, and the issuance, transfer, and redemption processes for cross-border settlement between Mitsubishi Corporation's bases in Japan and overseas were verified. The results showed that practical knowledge of stablecoin issuance and circulation was accumulated, the security and reliability of the system were confirmed, and the multi-bank joint issuance model was shown to be feasible.