Sumitomo Mitsui Financial Group, the parent company of Japan’s second-largest bank, SMBC, is stepping into the stablecoin space. The bank is collaborating with Ava Labs for blockchain infrastructure and Fireblocks for token management. Testing is set to begin in the second half of 2025, with a potential launch as early as next year. This move signals growing institutional interest in digital assets and could pave the way for wider stablecoin adoption in Japan.
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