Japan’s Minna Bank teams up with Fireblocks and Solana Japan to explore stablecoins
2025-07-04 09:13:20
Main Idea
Japan's banking sector is collaborating with digital asset companies to study the viability of stablecoins for real-world payments, while companies in China and South Korea are also exploring stablecoin initiatives.
Key Points
1. Japan’s Sumitomo Mitsui Financial Group is collaborating with Fireblocks, Solana Japan, and TIS on a joint study assessing the viability of stablecoins.
2. Chinese companies JD.com and Ant Group are lobbying the People’s Bank of China to authorize offshore yuan-backed stablecoins and have announced plans to issue Hong Kong dollar-backed stablecoins.
3. South Korean banks have entered the stablecoin sector, pushing to finalize a federal regulatory framework for dollar-backed stablecoins.
4. SMBC’s stablecoin pilot is expected to begin in late 2025 or early 2026, with full issuance planned later that year.
Description
Japanese digital bank Minna is reportedly exploring the use of stablecoins and Web3 wallets for real-world payments. According to a July 4 X post from digital asset infrastructure company Fireblocks, the bank is collaborating with Fireblocks, Solana Japan, and Japanese tech firm TIS on a joint study assessing the viability of stablecoins in everyday financial services. Japan’s first digital bank is taking the next step in real-world crypto adoption. Minna Bank ("Minna no Ginko") is launching a j...
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