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Morning Edition · Wednesday, June 24, 2026Published at 6:28 AM EDT · New York
Banks From Tokyo to Seoul Wire Stablecoins Into Cross-Border Payments
SBI launched a yen stablecoin, a South Korean digital bank tested Solana-based transfers, and Chainlink moved to connect dozens of banks.
Established financial institutions in Asia are embedding stablecoins into cross-border payment systems. In Japan, the $214 billion SBI Group launched JPYSC, described as the country's first trust-bank-backed yen stablecoin, bringing a regul…
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Part of a tracked trend
Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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