The Japanese Digital Bank Minna is reportedly investigating the use of Stablecoins and Web3 portfolios for Real-World payments.
According to a post of 4 x from digital assets infrastructure company Fireblocks, the bank works together with Fireblocks, Solana Japan and the Japanese technology company TIS on a joint study that assesses the viability of Stablecoins in daily financial services.
In a statement shared With Decrypt, banking officers have also announced plans to perform tests on the feasibility of publishing Stablecoins via Solana and evaluating how Web3 Wallets can support user -friendly financial experiences.
The banking sector of Japan puts “a larger and heavier emphasis” in areas such as business financing and international trade, Fireblocks Chief Strategy Officer Stephen Richardson explained in a separate explanation to the publisher.
Richardson said that Japan has ‘a lot of trade’, and that it is ‘made more effective by the easy and efficient movement of money’, pointing to stablecoins as a possible way to streamline existing processes that are usually limited by traditional bank rails.
All over the world, Stablecoins gains grip while governments and financial institutions investigate their use in payments, settlements and trade.
In China, companies such as JD.com and Ant Group are reportedly at the People’s Bank of China to authorize offshore yuan-stunned stablecoins. Both companies have also announced plans to issue Hong Kong Dollar-stundled Stablecoins, in accordance with the incoming regulatory framework of the city that will take effect on 1 August.
Stablecoins are already playing an important role in crypto payments throughout Europe. A report by June from Oobit showed that more than 75% of the crypto transactions on his Platform Stablecoins included, with the most important acceptance of retail and travel expenditure in countries such as Poland, Lithuania and Germany.
South Korean banks have also entered the sector and launched Stablecoin initiatives through regulated channels, while in the United States, legislators have urged a federal regulatory framework to complete because Stabilecoins are supported by dollars, worldwide use continue to dominate.
Japan, which recently accelerated efforts to regulate its cryptocurrency sector, has already seen major financial institutions start developing stablecoin solutions.
Sumitomo Mitsui Financial Group, the second largest banking group in the country, is also preparing for a Stablecoin in collaboration with Avalanche developer AVA Labs, in addition to fire blocks and TIS.
According to a report from April by Nikkei, the SMBC pilot is expected to start at the end of 2025 or early 2026, with full issue planned later that year.
