(Excerpt)
(Friday, November ７, 2025, ８:33 am to ８:45 am)
[Opening remarks:]
Minister)
Today, on November 7, I would like to briefly talk about the payment innovation of stablecoins. Today, a proof-of-concept experiment on joint issuance of stablecoins by three megabanks and other institutions has been selected as a project supported by the Financial Services Agency’s FinTech Proof-of-Concept Hub. We will support the implementation of this experiment going forward, including in terms of interpretation of laws and regulations. Furthermore, as there has been progress in the study on payment innovation utilizing blockchain technology, such as tokenized deposits and stablecoins, we are establishing the Payment Innovation Project, abbreviated as PIP, at the FSA effective today. In this PIP, persons in charge with deep expertise in the payments field, including blockchain technology, relevant laws and regulations, and international trends, will support each individual proof-of-concept experiment. The joint issuance of stablecoins introduced at the beginning is the first support project of this PIP. I have to attend a meeting of the Budget Committee later today, so I would appreciate it if you could inquire with the FSA for further details.
