Multiple Japanese banks complete stablecoin joint issuance and cross-border payment proof-of-concept experiment
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Multiple Japanese banks complete a proof-of-concept experiment for joint stablecoin issuance and cross-border payments.
Article
Multiple Japanese banks jointly conduct a stablecoin issuance and cross-border payment proof-of-concept experiment
PANews October 16 reported that Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, MUFG Trust and Banking Corporation, and TISI Co., Ltd. announced that they had July 17 to 23, 2026 conducted a proof-of-concept experiment involving the joint issuance of a stablecoin by multiple banks and the use of that stablecoin to upgrade cross-border payments. In the experiment, three banks acted as joint entrustors, while MUFG Trust and Banking Corporation acted as trustee to issue the stablecoin. The experiment verified the issuance, transfer, and redemption processes for cross-border settlements between Mitsubishi Corporation's Japan and overseas offices. The results showed that practical knowledge of stablecoin issuance and circulation had been accumulated, system security and reliability had been confirmed, and the multi-bank joint issuance model was feasible.
Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, MUFG Trust and Banking Corporation, and TISI Co., Ltd. announced that they had conducted a stablecoin proof-of-concept experiment.
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The experiment was conducted on July 17 to 23, 2026.
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Three banks acted as joint entrustors, while MUFG Trust and Banking Corporation acted as trustee to issue the stablecoin.
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The experiment verified the issuance, transfer, and redemption processes for cross-border settlements between Mitsubishi Corporation's Japan and overseas offices.
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The report stated that practical knowledge of stablecoin issuance and circulation had been accumulated, and system security and reliability had been confirmed.
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The report stated that the multi-bank joint issuance model was feasible.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
These banks tested how to jointly issue a stablecoin and use it to complete issuance, transfer, and redemption in cross-border settlements. A stablecoin is a type of digital asset generally used to maintain a relatively stable value.
Why it matters to readers
The experiment results showed that the joint issuance of a stablecoin by multiple banks and its use for cross-border settlements was feasible in this test.
This indicates that banks are testing the practical processes for using digital assets in international payments, but the experiment results do not mean that it has been formally commercialized.
Risks and unknowns
The evidence does not state whether formal commercialization or actual transactions have begun.
The evidence does not state the stablecoin's name, issuance volume, or settlement volume.
The evidence does not state the subsequent regulatory arrangements or whether the pilot will be expanded.
The above information comes from the report in the evidence and has not yet been independently verified beyond that evidence.
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Related concepts
Stablecoin
An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
