The Stablecoin War: Megabanks vs. SBI in the Battle for Japan’s Digital Future

“Japan Inc.” is dead. Long live competition. 🇯🇵
The era of the “convoy system” in Japanese finance is officially over. As Tokyo kicks off Japan Fintech Week 2026, a high-stakes “Stablecoin War” has broken out between the Megabanks and SBI Holdings.

The Facts:

• Bank Alliance: MUFG, SMBC, and Mizuho launch JPY stablecoin trials via Progmat for securities settlement.
• SBI Defiance: Yoshitaka Kitao rejects the consortium, betting on the @Startale Strium Network and proprietary tech.
• Global Push: SBI acquires a majority stake in @Coinhako parent @Holdbuild to secure the Singapore-Japan digital link.

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