Search results for Sumitomo Mitsui Financial Group
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
Japan\'s three megabanks expected to secure access to Anthropic\'s Mythos within two weeks
Japan\'s three megabanks are expected to secure access to Anthropic\'s AI model Mythos within two weeks, Reuters reported. A source familiar with the matter said Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group are likely to obtain access. The banks declined to comment and Anthropic did not respond, Reuters said. Japanese Finance Minister Satsuki Katayama said a public-private working group would be set up this week.
