Japan’s Financial Services Agency has decided to support a proof-of-concept project that would use stablecoins in the settlement of funds tied to trade transactions. The application was submitted by six companies, including trade platform operator TradeWaltz, NTT Data, and Mizuho Bank, and was selected as a supported case under the FinTech Proof-of-Concept Hub’s Payment Innovation Project, or PIP. According to the announcement, this marks the fourth support decision under PIP and the 15th case backed by the FinTech Proof-of-Concept Hub overall. The experiment is designed around potential use of stablecoins in scenarios such as settlement for the purchase of export receivables. The development was reported by CoinPost and carried by Techub News.
Japan’s Financial Services Agency said it has decided to support a proof-of-concept experiment that would apply stablecoins to the settlement of funds in trade transactions.
The application was submitted by six companies, including trade platform operator TradeWaltz, NTT Data, and Mizuho Bank. It was selected as a support case under the FinTech Proof-of-Concept Hub’s Payment Innovation Project, or PIP.
The agency said this is the fourth support decision under PIP and the 15th case supported by the FinTech Proof-of-Concept Hub overall.
The experiment envisions the use of stablecoins in areas including settlement for the purchase of export receivables.
The development was reported by CoinPost and republished by Techub News.
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