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Key Notes
- Minna Bank plans on exploring the usage of digital wallet and stablecoins in Japan. The research will focus on issuing stablecoins on the Solana chain.
- The study will also review the use cases of these innovations including asset trading, digital payments and cross-border payments. .
Minna Bank, a digital bank based in Japan, has announced a new research initiative to explore the potential role of digital wallets and stablecoins in the country’s financial payment ecosystem.
The study is being conducted in collaboration with key partners, including crypto infrastructure firm Fireblocks, Solana Japan, and Japanese tech company TIS.
The project will examine how stablecoins and decentralized technologies could be integrated into traditional banking services. Areas of focus include digital payments, asset trading, and cross-border transactions, as the bank seeks to identify practical use cases for these emerging technologies within Japan’s regulated financial sector.
As part of the study, the group will research the viability of issuing stablecoins on Solana SOL $150.7 24h volatility: 1.6% Market cap: $80.55 B Vol. 24h: $4.13 B and explore how Web3 wallets can provide more seamless and user-friendly financial experiences.
What Other Countries Are Doing
This follows China’s central bank requesting government officials to explore the use of stablecoins for global payments.
Despite China’s current ban on cryptocurrency activities, financial authorities believe that a yuan-backed stablecoin could advance the country’s long-term objective of increasing the local currency’s influence globally.
In South Korea, discussions around a central bank digital currency (CBDC) have been put on hold, and a second phase of testing, originally scheduled for late 2025, is now unlikely to proceed.
Businesses that were supposed to take part in the pilot have reportedly been notified of the change.
According to a senior official, the central bank’s decision comes from a desire to first observe the government’s approach to stablecoins before deciding whether a CBDC can effectively coexist with such digital assets.
In the United States, President Donald Trump has publicly endorsed the Genius Stablecoin Act, urging swift passage so he can sign it into law. Proponents of the legislation argue that it would help make sure the U.S. dollar maintains its dominance in the global financial system.
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Rose is a crypto content writer with a strong background in finance and tech. She simplifies complex blockchain and cryptocurrency topics, offering insightful articles and market analysis to help readers navigate the evolving crypto landscape.
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