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Japan Endorses Stablecoin Initiative by Big Banks, Signaling Shift Toward Digital Finance Integration
Japan’s financial authorities are embracing digital currency innovation with a major announcement on Friday: Finance Minister Satsuki Katayama confirmed that the Financial Services Agency (FSA) will support a joint initiative by Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho Financial Group to issue stablecoins. The project represents a unified move by Japan’s top banking institutions to modernize cross-border transactions and digitize payments, traditionally dominated by cash and credit cards in the country. The FSA, tasked with supervising financial regulations, will evaluate the legal and operational framework of ... (full story)
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