[Japan's Three Major Banks Plan to Jointly Issue Stablecoins by March 2027] According to Reuters, Japan's three major banking groups—Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group—plan to jointly issue stablecoins by March 2027. The banking divisions of the three banks will establish a committee to review the operational framework and prepare for issuance. The Financial Services Agency of Japan has been supporting the project's trial phase as part of the nation's efforts to enhance payment systems using blockchain technology. Japanese startup JPYC began issuing yen-pegged stablecoins in October last year.