Sumitomo Mitsui Bank News

Project Pax, backed by Japan’s top banks, seeks to streamline cross-border transactions using stablecoins, addressing inefficiencies identified by the G20.

Japan’s financial giant Sumitomo Mitsui Financial Group is experimenting with soulbond tokens to satisfy new social needs.

Mitsui is reportedly planning to launch its gold-pegged stablecoin ahead of DCJPY, another major Japanese stablecoin project.

Sumitomo Mitsui has partnered with Securitize to launch Japan’s first security token that complies with the country’s Financial Instruments and Exchange Act.

Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents’ persistent use of cash?