Japan’s Minna Bank Launches Stablecoin Pilot Program

- Minna Bank begins digital wallet experiments using stablecoins. - Focused on cross-border payments and global use case validation. According to Decrypt on July 4, Minna Bank, Japan’s first digital bank, has initiated a pilot program to explore the use of stablecoins and digital wallets. The project runs on the Solana blockchain and aims to test the technical feasibility and real-world applicability of such technologies in banking operations. Minna Bank is collaborating with Fireblocks, Solana Japan, and Japanese tech firm TIS to lead the initiative. Key areas under review include cross-border payments using stablecoins, asset tokenization, and implementation of digital payment systems. The project also plans to offer a user-friendly Web3 wallet experience. TIS, known for its banking system development expertise, is providing technical support during the early stages of the pilot. This initiative aligns with the global trend of accelerating stablecoin adoption in traditional finance. Stablecoins, which are pegged to fiat currencies, are gaining attention for their low volatility and potential use in international settlements and digital deposits. Minna Bank’s pilot is considered a pioneering step toward stablecoin commercialization in Japan and highlights the country’s move toward digital financial innovation. The effort is being seen as a turning point in Japan’s financial industry modernization.