TOKYO, Oct 17 (Reuters) - Japan's three largest banks, Mitsubishi UFJ Financial Group (8306.T) , opens new tab, Sumitomo Mitsui Financial Group (8316.T) , opens new tab and Mizuho Financial Group (8411.T) , opens new tab, will jointly issue "stablecoins", digital currencies pegged to the value of real-world currencies, the Nikkei business daily reported on Friday.

The banks will build a structure for their corporate clients to allow for stablecoins to be transferred between them along uniform standards, initially issuing a yen-pegged coin and potentially a dollar-pegged coin in the future, the Nikkei said.

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https://www.reuters.com/business/finance/japans-top-banks-jointly-issue-stablecoin-nikkei-says-2025-10-17/