Japan’s three largest banking groups are preparing to jointly issue stablecoins and launch real-world transactions by the end of fiscal 2026. The initiative brings together banking titans Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMFG), and Mizuho Financial Group, which collectively oversee close to $7 trillion in assets. The banks have also agreed to establish a council that will design the governance and infrastructure needed for the project.