Japan prepares for yen-backed stablecoins launch under strict framework

The stablecoin competition is heating up in Japan as the nation’s three megabanks, Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho announced plans to issue a common-standard yen and dollar-pegged stablecoin for corporate payments. The group, which collectively serves more than 300,000 major clients, aims to roll out tokens within this fiscal year after conducting trial transfers […] source: https://www.cryptopolitan.com/japan-yen-backed-stablecoins-launch/