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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.

AI & Enterprise

Japanese financial institutions get access to GPT-5.5; minister says Claude Mythos access also planned

OpenAI has allowed Japanese financial institutions to access its GPT-5.5 model to help defend against cyber attacks, Reuters reported on May 29. Japanese Finance Minister Satsuki Katayama (가타야마 사쓰키) called the move a major step in strengthening cyber defence after meeting OpenAI Chief Strategy Officer Jason Kwon in Tokyo. Japan also plans to secure access to Anthropic’s Claude Mythos, she said. Japan launched a public-private working group in May to address cyber threats posed by Mythos to the financial system.