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."

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

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