SMBC announced a Memorandum of Understanding (MOU) with Ava Labs, Fireblocks, and TIS to develop and launch a fiat-pegged stablecoin by 2026, following trials set for late 2025.

Quotes that support claims

The project is currently in its planning phase, with trials slated to begin in the second half of 2025.

Sumitomo Mitsui Financial Group... is planning to launch a stablecoin in collaboration with Ava Labs and Fireblocks, Nikkei reported Tuesday.