Japan's financial regulator, FSA, said the venture will see MUFG, SMBC and Mizuho explore the joint issuance of a stablecoin as an electronic payment instrument.

The Japan Financial Services Agency (FSA) announced that it has launched an initiative to support the yen-based stablecoin joint venture launched by the country’s major banks. According to a recent press release, the FSA’s Payment Innovation Project will focus on…