Mizuho, MUFG, and SMBC target beginning commercial live transactions of the joint yen stablecoin during fiscal year 2026, which runs from April 2026 to March 2027.

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Banks, asset managers, corporations and pension funds moving into digital assets through custody launches, trading desks and treasury allocations.