Mitsubishi UFJ Trust Bank said it completed a proof-of-concept experiment on the joint issuance of a yen-denominated stablecoin and the optimization of cross-border payments, working with Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank and TISI. The trial ran from July 17 to July 23, 2026, according to the bank’s official announcement. Supported by Japan’s Financial Services Agency under its Fintech Proof-of-Concept Hub and payment advancement project, the experiment tested whether a multi-bank stablecoin issuance model is workable. It also examined how blockchain could be used in international remittances and business-to-business payments. The bank said the results showed that issuing and circulating the stablecoin was operationally feasible, offering a reference point for future digital payment services and the broader social implementation of blockchain-based financial assets.
According to an official announcement from Mitsubishi UFJ Trust Bank, the bank completed a proof-of-concept experiment on the joint issuance of a yen stablecoin and the optimization of cross-border payments from July 17 to July 23, 2026.
The project was conducted with Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank and TISI. It was supported by Japan’s Financial Services Agency under the Fintech Proof-of-Concept Hub and payment advancement project.
The experiment tested the feasibility of a multi-bank model for jointly issuing stablecoins and explored the potential use of blockchain technology in international remittances and business-to-business payments.
Mitsubishi UFJ Trust Bank said the results showed that issuing and circulating the stablecoin was operationally feasible, providing an important reference for future digital payment services and the broader social implementation of blockchain-based financial assets.
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