Japan’s Big Banks Launch FSA-Backed Yen Stablecoin Pilot

Japan is taking a giant leap forward in the digital currency space with the launch of a pioneering yen stablecoin pilot project. The Financial Services Agency (FSA) has thrown its support behind this initiative, spearheaded by three of Japan’s largest banks: MUFG, SMBC and Mizuho. This groundbreaking development marks a significant step toward mainstream cryptocurrency adoption in one of the world’s leading economies.