The partnership between SMBC, Ava Labs, Fireblocks, and TIS aims to establish a comprehensive framework for stablecoin issuance and circulation, including technical, regulatory, and market infrastructure analysis.

Quotes that support claims

Sumitomo Mitsui Financial Group (SMBC Group)... has announced a Memorandum of Understanding (MOU) with blockchain platform Ava Labs, digital asset custody provider Fireblocks, and IT solutions provider TIS aimed at developing a comprehensive framework for stablecoin issuance and circulation.

This includes a deep dive into the technical, regulatory, and market infrastructure requirements necessary for widespread adoption.