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Crypto

Japan\'s three megabanks to create joint stablecoin, seek issuance within 2026

Japan\'s three megabanks plan to issue a jointly created stablecoin during fiscal 2026. CoinPost reported that Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corp and Mizuho Bank will soon reach a basic agreement and set up a council to flesh out operations. The plan assumes the banks obtain licences for electronic payment instrument transactions, with a trust bank acting as issuer trustee. The initiative is also tied to securities settlement tests using blockchain data.

Crypto

Japan ruling party proposes crypto ETFs, yen stablecoins to target Asian payment hub

Japan\'s ruling Liberal Democratic Party has moved to promote policies to legalise cryptocurrency exchange-traded funds and expand yen-denominated stablecoins. A party panel submitted a proposal to Finance Minister Satsuki Katayama on May 31. The plan aims to recognise crypto ETFs as regulated investment products and develop yen stablecoins as a payment gateway for Asia. The proposal cites the dominance of dollar-pegged stablecoins and points to domestic pilots and legislation steps under way.

Crypto

Japan seen as possible launch market for spot XRP ETF

A spot XRP exchange-traded fund could draw large inflows from pension funds and financial institutions and help expand the XRP market if it is approved in Japan, an analysis said. Observers cited Japan’s regulatory overhaul and distribution networks as factors that could support ETF demand and spur broader institutional interest in Asia. Japan’s cabinet has approved a bill to reclassify 105 cryptocurrencies as financial products, with implementation expected in fiscal 2027.