TOKYO -- Three major Japanese banks -- MUFG Bank, Sumitomo Mitsui Banking Corp. and Mizuho Bank -- will jointly issue a stablecoin, Nikkei has learned, as the lenders join forces to promote settlements made with pegged cryptocurrencies.
Cryptocurrencies
Japan's Sumitomo Mitsui and two other banks to jointly issue a stablecoin
Mitsubishi Corp. adopts new tech to reduce remittance costs
The banks have more than 300,000 major clients among them, and their stablecoin could help companies save on remittance fees, customer transactions and a host of other expenses. (Source photos by Akira Kodaka Tomoki Mera and Yuki Nakao)
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