[Japan Financial Services Agency Supports Three Major Banks in Yen Stablecoin Pilot Experiment] The Japan Financial Services Agency announced its support for Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank in jointly conducting a pilot experiment for yen stablecoins. This project is being advanced as the first case under the 'Payment Innovation Project (PIP).' The experiment aims to explore digital payment innovations based on blockchain technology, and the participation of the three major banks is expected to provide significant references for the technical application and regulatory framework of stablecoins in Japan.