Japan's top 3 banks launch stablecoin pilot with regulatory support. Japan's Financial Services Agency announced Friday it will support a stablecoin pilot project by the country's three largest banks, marking the first initiative under the agency's newly established Payment Innovation Project as the nation seeks to modernize its corporate payment infrastructure. MUFG Bank, Sumitomo Mitsui Banking Corp., and Mizuho Bank will jointly test the issuance of yen-backed stablecoins as electronic payment instruments, with trials beginning this month and running for the foreseeable future #JapanFinance #stablecoin #DigitalYen #Fintech #BankingInnovation #MUFG #Mizuho #SumitomoMitsui #FSA https://www.nippon.com/en/...