# Japan's Megabanks Plan a Joint Yen Stablecoin | CoinDesk Daily

Page: https://stenobird.com/podcast/coindesk-podcast-network-334494/japan-s-megabanks-plan-a-joint-yen-stablecoin-coindesk-daily
Text version: https://stenobird.com/podcast/coindesk-podcast-network-334494/japan-s-megabanks-plan-a-joint-yen-stablecoin-coindesk-daily.md
Podcast: [CoinDesk Podcast Network](https://stenobird.com/podcast/coindesk-podcast-network-334494)
Published: 2026-06-10T17:06:00+00:00
Episode link: https://traffic.megaphone.fm/CDI6076309424.mp3
Audio file: https://traffic.megaphone.fm/CDI6076309424.mp3
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Duration seconds: 83

## Resource

A Yen stablecoin from the mega banks? Japan's three largest banks, MUFG, Mizuho, and SMBC, are planning to jointly issue a yen-backed stablecoin by March 2027, with backing from Japan's Financial Services Agency. Yen tokens currently represent less than $50 million in a $311 billion market dominated by dollar tokens. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

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