Japan PIP Stablecoin Experiment Backed by Financial Services Agency

Japan’s Monetary Companies Company is backing a multi-bank PIP stablecoin experiment.

Japan’s Monetary Companies Company (FSA) publicizes assist for the Cost Innovation Challenge (PIP) stablecoin experiment beginning in November 2025 in Japan, involving Mizuho Financial institution, MUFG Financial institution, Sumitomo Mitsui Banking Company, Mitsubishi Company, Mitsubishi UFJ Belief and Progmat, Inc. be concerned; the FinTech Proof-of-Idea Hub launched PIP on November 7, 2025. The experiment exams the co-issuance of so-called stablecoins (digital technique of fee) to confirm authorized and acceptable regulatory and operational responses.

The FSA will publish experiment outcomes and conclusions on its web site upon completion, addressing compliance, regulatory responses and authorized interpretation points for consumer-facing providers, noting that the mission met standards for readability, social profit, innovation, consumer safety and feasibility. Availability and subsequent steps are topic to experimental outcomes and any regulatory approvals or EU/different cross-border concerns, if related.

🧭 Ceaselessly requested questions

• Who’re the candidates in Japan for the PIP experiment? Mizuho Financial institution, MUFG Financial institution, Sumitomo Mitsui Banking, Mitsubishi Company, Mitsubishi UFJ Belief and Progmat, Inc.
• When does the PIP stablecoin experiment begin in Japan? The experiment will begin in November 2025 and can proceed for the foreseeable future.
• What is going to the FSA publish after the experiment in Japan? The FSA will publish experiment outcomes, compliance points and authorized interpretation factors on its web site.
• Why did the FSA approve assist for this PIP in Japan? The mission met standards by way of readability, social significance, innovation, consumer safety and feasibility.