The post Japan’s Largest Banks Get Greenlight for Stablecoin Trial, Plan March 2026 Launch appeared on BitcoinEthereumNews.com. In brief Japan’s largest banks have received approval for proof-of-concept (PoC) trials of a yen-denominated stablecoin. Nikkei reports the banks think it will roll out by March 2026. A Japanese fintech firm has already launched a yen-based stablecoin in recent months, though at a smaller scale. Japan’s financial services regulator has approved a stablecoin pilot involving the country’s three largest banks: MUFG Bank, Sumitomo Mitsui Banking Corp., and Mizuho Bank. According to the announcement, the PoC trial will look to verify whether “regulatory and practical compliance” can be carried out “legally and appropriately” when multiple banks jointly issue a stablecoin. Business newspaper Nikkei Asia reported earlier this month that the banks intend their stablecoin to be in practical use by March 2026, following the PoC trial finalizing. They reportedly plan for the stablecoin to be used for both intracompany and intercompany payments, and by their corporate clients. In addition, Nikkei said that though the initial focus will be on issuing a yen-pegged stablecoin, the banks also plan a dollar-pegged stablecoin at an unspecified time in the future. The banks will reportedly use the technical infrastructure of Tokyo-based fintech company, Progmat. Stablecoins in Japan The news comes as smaller firms have already rolled out yen stablecoins. Last week, JPYC, a Tokyo startup, announced a fully convertible yen stablecoin backed by domestic bank deposits and Japanese government bonds (JGBs). Rajiv Sawhney, a Tokyo-based portfolio manager at Wave Digital Assets International, expects that the banks will be able to go ahead with plans to roll out their stablecoin by March 2026—but doesn’t feel that the coin will see much adoption, at least initially.  He pointed to the popularity of QR-based payment network PayPay in Japan, which is already widely adopted by merchants. “Unlike the US, Japan is already very much cashless. So… The post Japan’s Largest Banks Get Greenlight for Stablecoin Trial, Plan March 2026 Launch appeared on BitcoinEthereumNews.com. In brief Japan’s largest banks have received approval for proof-of-concept (PoC) trials of a yen-denominated stablecoin. Nikkei reports the banks think it will roll out by March 2026. A Japanese fintech firm has already launched a yen-based stablecoin in recent months, though at a smaller scale. Japan’s financial services regulator has approved a stablecoin pilot involving the country’s three largest banks: MUFG Bank, Sumitomo Mitsui Banking Corp., and Mizuho Bank. According to the announcement, the PoC trial will look to verify whether “regulatory and practical compliance” can be carried out “legally and appropriately” when multiple banks jointly issue a stablecoin. Business newspaper Nikkei Asia reported earlier this month that the banks intend their stablecoin to be in practical use by March 2026, following the PoC trial finalizing. They reportedly plan for the stablecoin to be used for both intracompany and intercompany payments, and by their corporate clients. In addition, Nikkei said that though the initial focus will be on issuing a yen-pegged stablecoin, the banks also plan a dollar-pegged stablecoin at an unspecified time in the future. The banks will reportedly use the technical infrastructure of Tokyo-based fintech company, Progmat. Stablecoins in Japan The news comes as smaller firms have already rolled out yen stablecoins. Last week, JPYC, a Tokyo startup, announced a fully convertible yen stablecoin backed by domestic bank deposits and Japanese government bonds (JGBs). Rajiv Sawhney, a Tokyo-based portfolio manager at Wave Digital Assets International, expects that the banks will be able to go ahead with plans to roll out their stablecoin by March 2026—but doesn’t feel that the coin will see much adoption, at least initially.  He pointed to the popularity of QR-based payment network PayPay in Japan, which is already widely adopted by merchants. “Unlike the US, Japan is already very much cashless. So…