Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Trust and Banking Corporation, and TISI Inc. have successfully completed a proof-of-concept for jointly issuing stablecoins to facilitate cross-border payments. Conducted from July 17 to 23, 2026, the experiment verified the issuance, transfer, and redemption processes for settlements between Mitsubishi Corporation's domestic and overseas locations.
The trial utilized a multi-bank co-issuance model where three banks acted as co-trustors and Mitsubishi UFJ Trust served as trustee. Participants confirmed the feasibility of the collaborative framework, validating system security and reliability while accumulating practical knowledge on stablecoin circulation for international settlement use cases.
Japanese Banks Complete Stablecoin Co-Issuance PoC for Cross-Border Payments
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