TOKYO -- Japan's top three banks will launch a pilot program for the joint issuance of stablecoins pegged to the yen as the country rushes to build its own digital payment network amid the rise of dollar-denominated stablecoins overseas.
Cryptocurrencies
Japan top 3 banks to test yen stablecoins in push against dollar rivals
Government backs pilot program as coins pegged to greenback become global standard
Japan's major banks teaming up to issue the stablecoins is expected to help encourage widespread adoption, especially among corporate clients. (Illustration by Nikkei)
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