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Mizuho, MUFG, and SMBC Complete Joint Yen Stablecoin Pilot
Banks Mizuho, MUFG, and SMBC have completed a joint yen stablecoin pilot. The trial took place in July and was conducted for Mitsubishi Corporation. During this pilot, the trial covered the issuance, transfer, and redemption of the yen stablecoin. Following the completed trial, the banks have targeted commercial transactions in fiscal 2026.