Update
Japan’s Three Largest Banks Complete Yen Stablecoin Pilot
Japan's three largest banks, including Mitsubishi Corporation, completed a seven-day trial of a yen-based stablecoin for cross-border payments. The pilot, which involved Mitsubishi Corporation's locations in Japan and overseas, demonstrated the feasibility of the stablecoin for business transactions. The banks are exploring a potential launch of the yen stablecoin in the future, potentially in conjunction with Ripple technology.