Nikkei Business News reported on Friday that Japan's three major banks — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group — will jointly issue "stablecoins." A stablecoin is a type of digital currency that is tied to the value of real-world currencies.

Nikkei News pointed out that these banks will establish a system for corporate clients to use, ensuring that stablecoins can circulate among clients based on a unified standard. Initially, stablecoins pegged to the yen will be issued, and in the future, there may be consideration for issuing stablecoins pegged to the US dollar.#