Japan's Major Banks Collaborate to Launch Yen-Pegged Stablecoin

Japan's leading banks, including Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho, are set to launch a yen-pegged stablecoin aimed at modernizing payment systems and enhancing corporate settlements. This collaboration reflects Japan's commitment to financial innovation and positions the country as a key player in the digital currency landscape, potentially transforming digital payments and setting a precedent for others.