Major Japanese banks are collaborating on a groundbreaking project, launching a yen and dollar-pegged stablecoin to simplify international settlements and reduce costs. This initiative from MUFG, SMBC, and Mizuho aims to modernize Japan’s payments system and establish the country as a leader in digital currency adoption. 🌎 Mitsubishi Corporation will be the initial user of this stablecoin, with plans for wider adoption across the banks’ network of over 300,000 business partners. This collaboration underscores Japan’s commitment to integrating blockchain technology into its financial operations and expanding its global presence in the digital currency market.