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Fintech

Japan\'s three megabanks complete test of jointly issued stablecoin for international payments

Japan\'s three megabanks have completed a cross-border payments test using a jointly issued stablecoin. Mizuho Bank, Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corp ran the trial from July 17 to 23 with Mitsubishi UFJ Trust and Banking and TISI, checking issuance, transfer and redemption. The project is tied to a Financial Services Agency-backed programme and aims to prepare for real transactions within fiscal 2026.

Crypto

Cuomo urges bipartisan digital asset law to keep U.S. crypto rules from shifting with elections

Concerns are rising that U.S. cryptocurrency regulation could swing with election outcomes. Former New York Governor Andrew Cuomo said Congress should quickly produce bipartisan digital asset legislation that can endure changes in administration. He argued the current framework relies more on federal agencies’ administrative actions than on congressional law, leaving rules politically vulnerable. Cuomo warned uncertainty hurts companies, investors and consumers, and urged the next Congress to pass legislation authorising digital asset activity.

Crypto

SBI adds Japanese short-term government bonds to reserves for yen stablecoin JPYSC

SBI Group has started managing part of the collateral for yen-pegged stablecoin JPYSC in short-term Japanese government bonds. SBI Shinsei Trust Bank and SBI VC Trade said they began the operation on Sept. 7, covering 1 billion yen of trust assets. The move uses provisions of Japan’s revised Payment Services Act, effective June 2026, which allows up to 50 percent of trust-type stablecoin reserves to be held in short-term government bonds or time deposits.