According to CoinMeta, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Bank, and Mitsubishi Trust and Banking Corporation announced on October 16 that they had completed a joint issuance and cross-border payment test of a Japanese yen-stabilized coin. The test was conducted from July 17 to 23, with the three banks acting as co-trustors and Mitsubishi Trust and Banking Corporation as the trustee. It used cross-border settlements between Mitsubishi Corporation's Japanese and overseas branches as a simulated scenario to verify the issuance, transfer, and redemption processes of the stable coin. The participating institutions stated that the test confirmed the technical and operational feasibility of a joint issuance model involving multiple banks. The three banks previously set a goal of launching actual transactions by the fiscal year 2026, but as of now, it has not yet been officially put into commercial use.