The Japan Financial Services Agency announced support for a pilot experiment on stablecoin issuance by three major banks. The project is jointly participated by MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank, and is being advanced as the first supported case under the 'Payment Innovation Project (PIP).' The aim is to verify the compliance and feasibility of stablecoin issuance by multiple banking groups. The experiment is expected to launch in November 2025. (CoinDesk)