{"rewrite":{"id":"r_0ef8dc858391aed06778a1fd","clusterId":"c_2382dc3fbc9276901458db10","slug":"japan-s-three-megabanks-form-council-to-issue-stablecoins","model":"deepseek-v4-flash","headline":"Japan's Three Megabanks Form Council to Issue Stablecoins","summary":"Mitsubishi UFJ Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation announced on June 10, 2026, the formation of a council to jointly issue trust-type stablecoins, aiming to start transactions within fiscal 2026. The move follows a proof-of-concept supported by the Financial Services Agency and positions the banks against SBI's stablecoin efforts.","whyItMatters":"The three megabanks' joint council signals a concrete step toward institutional stablecoin issuance in Japan, with trust-type coins offering unlimited transfer amounts and stronger customer fund protection than existing options like JPYC.","webCardHtml":"\u003cp\u003eMitsubishi UFJ Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation announced on June 10, 2026, that they have agreed to establish a council with a view to jointly issuing stablecoins. The three megabanks aim to start transactions within fiscal 2026, building on a proof-of-concept supported by the Financial Services Agency\u0026#39;s Fintech Proof-of-Concept Hub and Payment Sophistication Project since November 2025.\u003c/p\u003e\u003cp\u003eThe banks plan to issue trust-type stablecoins, where funds are deposited with Mitsubishi UFJ Trust and Banking Corporation and beneficiary rights are issued on the blockchain. Unlike JPYC, which is registered as a Type II funds transfer service provider and has a transfer limit of 1 million yen, trust-type stablecoins have no upper limit on transfers, making them suitable for large-scale corporate settlements. Major trading company Mitsubishi Corporation participated in the proof-of-concept, testing practical international remittances.\u003c/p\u003e\u003cp\u003eEven if a megabank or trust bank participating in this framework goes bankrupt, the trust property is protected as independent assets, meaning users\u0026#39; funds are expected to be withdrawable. This structure contrasts with dollar-denominated stablecoins like Tether, where the issuing company holds customer funds directly.\u003c/p\u003e","blueskyPost":"The three megabanks are pooling resources for stablecoins, turning a bilateral rivalry with SBI into a coordinated push. The council structure suggests they want regulatory speed, not market competition among themselves.","twitterPost":"Three megabanks jointly issuing stablecoins signals they see SBI as the common competitor, not each other.","threadsPost":"Japan's three megabanks are forming a council to issue stablecoins together, rather than each launching their own. That coordination points to a shared target: SBI, which already has a stablecoin pilot. The council structure is a bet that pooled regulatory leverage moves faster than going it alone.","newsletterBlurb":"Japan's three megabanks announced a council to jointly issue trust-type stablecoins, aiming for transactions within fiscal 2026. The trust structure offers unlimited transfers and protects user funds even in a bank failure, positioning the banks against SBI's stablecoin initiatives.","attributionJson":"[{\"source\":\"ASCII.jp\",\"url\":\"https://ascii.jp/limit/group/ida/elem/000/004/410/4410543/?rss\",\"title\":\"Three Megabanks in Stablecoin Race, Competition with SBI Intensifies\"}]","lintFlagsJson":null,"lintHits":0,"costUsd":0,"inputTokens":3975,"outputTokens":682,"status":"published","repairAttempts":0,"nextRepairAt":null,"factsAttemptedAt":1781564277,"createdAt":"2026-06-15T22:45:37.000Z","publishedAt":"2026-06-15T22:49:57.000Z","updatedAt":"2026-06-15T22:49:57.000Z"},"cluster":{"id":"c_2382dc3fbc9276901458db10","canonicalTitle":"3メガバンクがステーブルコイン、SBIと競争激化か","representativeArticleId":"a_ef8e574eb592b610cbe87cf8","sourceCount":1,"writtenSourceCount":1,"writeAttempts":0,"isSolo":true,"entitiesJson":"{\"anime_titles\":[],\"manga_titles\":[],\"work_titles\":[],\"studios\":[],\"people\":[],\"type\":\"news\",\"domain\":\"other\",\"is_roundup\":false}","contentType":"news","status":"published","firstSeenAt":"2026-06-15T22:00:00.000Z","lastSeenAt":"2026-06-15T22:00:00.000Z","updatedAt":"2026-06-15T22:49:57.000Z"},"attribution":[{"source":"ASCII.jp","url":"https://ascii.jp/limit/group/ida/elem/000/004/410/4410543/?rss","title":"3メガバンクがステーブルコイン、SBIと競争激化か"}],"entities":{"anime_titles":[],"manga_titles":[],"work_titles":[],"studios":[],"people":[],"type":"news","domain":"other","is_roundup":false},"keyFacts":["Mitsubishi UFJ Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation announced on June 10, 2026, the formation of a council to jointly issue trust-type stablecoins.","The three megabanks aim to start transactions within fiscal 2026, building on a proof-of-concept supported by the Financial Services Agency since November 2025.","Trust-type stablecoins have no upper limit on transfers, unlike JPYC which has a 1 million yen limit, making them suitable for large-scale corporate settlements.","Mitsubishi Corporation participated in the proof-of-concept, testing practical international remittances.","If a participating bank goes bankrupt, the trust property is protected as independent assets, allowing users' funds to be withdrawn."]}