Crypto readiness score
2/3 status dimensions verified · 1 initiative · last verified 2026-10-24
Score breakdown
How the number above is built — every input is a verified tracker status with a dated source.
| Component | Weight | Points | Basis (verified input) |
|---|---|---|---|
| Commercial availability | 35 | 3.5 | Announced / exploring · initiative |
| Regulatory standing | 25 | — | No verified status — not scored |
| Technical delivery | 20 | 8 | Pilot / proof of concept · initiative |
| Product breadth | 15 | 5 | 1 product category with a verified status: Stablecoin issuance |
| Recent verified activity | 5 | 5 | Last verified change 2026-10-16 |
Score = sum of points, rounded. Only verified tracker statuses count; “Unknown” earns nothing and is never estimated. Methodology
Initiatives (1)
Regulatory, technical and commercial status are kept separate: an authorisation is not a launch.
Stablecoin issuance · Japan
Three-megabank jointly issued yen stablecoin (trust-type, PSA)
- regulatory
- Unknown
- technical
- Pilot / proof of concept2026-10-16
- commercial
- Announced / exploring2026-06-10
MUFG Bank, Mizuho Bank and SMBC, with Mitsubishi UFJ Trust and Banking as agent trustee, completed a July 2026 proof-of-concept of a jointly issued yen stablecoin for cross-border payments, selected by Japan's FSA as the first Payment Innovation Project case, and aim for live transactions in fiscal year 2026.
Scope: Proof of concept; live transactions targeted within FY2026 (no date given).
In tracker · last verified 2026-10-24
Licences & registrations
Regulator records (or MiCA Art. 60 notifications — a notification, not an authorisation).
No licence or registration record in our verified data. This means “not reviewed”, not “unlicensed”.
Partners & providers
From tracker records and verified item text only. “Co-named” means both appear in the same source — open it for context. Full map
- SMBC · joint initiative (tracker)
- Mizuho Bank · joint initiative (tracker)
Regulator records & actions
Register entries and regulator publications that name this institution.
- 2025-11-07Primary record · Financial Services Agency (Japan)Press Conference by KATAYAMA Satsuki, Minister of State for Financial Services (November 7, 2025) (opens source in new tab)
Markets (from stated target markets): Japan
Timeline
Status changes (tracker history), verified items and regulatory dates, newest first.
2026-10-16 · Status
PoC (17–23 July 2026) completed.
2026-10-16 · Item
Japan's three megabanks complete proof-of-concept for a jointly issued yen stablecoin
Mitsubishi UFJ Trust and Banking (joint release with Mizuho Bank, MUFG Bank, SMBC and TISI)
2026-06-10 · Status
Banks state aim to launch live transactions in FY2026 and form a council.
2025-11-07 · Status
PoC approved for FSA FinTech PoC Hub support; Progmat provides infrastructure.
Data: /api/banks.json (CC BY 4.0) · Spot an error? Corrections
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