Name: Japan's megabanks plan a joint Yen stablecoin
Uploaded: 2026-06-10T16:59:44.000Z
Duration: 1 min 23 s
Description: Japan's three largest banks, MUFG, Mizuho, and SMBC, are planning to jointly issue a yen-backed stablecoin by March 2027, with backing from Japan's Financial Services Agency. Yen tokens currently represent less than $50 million in a $311 billion market dominated by dollar tokens. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

CD20$1,712.49 BTC$62,661.78 ETH$1,794.21 XRP$1.07 SOL$75.29

Japan's megabanks plan a joint Yen stablecoin | CoinDesk Videos

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CD20$1,712.49 BTC$62,661.78 ETH$1,794.21 XRP$1.07 SOL$75.29

Japan's megabanks plan a joint Yen stablecoin | CoinDesk Videos