Japan’s Minna Bank Explores Stablecoins on Solana in Fireblocks-Led Study
The post Japan’s Minna Bank Explores Stablecoins on Solana in Fireblocks-Led Study appeared on BitcoinEthereumNews.com. In brief Minna Bank, Japan’s first digital-only bank, is piloting stablecoin and wallet use cases with Fireblocks, Solana Japan, and TIS. The study will assess the issuance of stablecoins on Solana and explore their real-world applications, including cross-border payments and asset trading. Japan’s move follows rising global interest in stablecoins, with local institutions seeking faster, cheaper alternatives to traditional banking rails. Minna Bank, Japan’s first digital-only bank and a subsidiary of Fukuoka Financial Group, announced Thursday it is exploring the use of stablecoins and digital wallets to support everyday financial services and payments in the country. The initiative is part of a joint study in collaboration with Fireblocks, Solana Japan, and Japanese tech firm TIS, aiming to assess the practical applications of stablecoins and decentralized wallets in real-world banking. The study will examine use cases including cross-border payments, real-world asset trading, and day-to-day digital payments, according to a statement shared with Decrypt. It will also examine the technical feasibility of issuing stablecoins on the Solana blockchain and evaluate how Web3 wallets can provide more intuitive financial experiences for users. The move comes as digital assets whose values are pegged to fiat currencies and commodities are experiencing a surge in interest and adoption. CEX.IO, a London-based crypto exchange founded in 2013, said a recent survey of 2,600 users found that stablecoins are increasingly being used for everyday financial activities, with 69% of respondents using them more frequently than a year ago and 54% citing lower fees than traditional banks or money transfer services. With stablecoins collectively topping $250 billion, financial institutions are ramping up efforts to implement them for purposes ranging from international settlements to tokenized deposits. Countries such as the U.S. are racing to establish stablecoin legislation, while Hong Kong’s rules are set to take effect next month. In South…
The post Japan’s Minna Bank Explores Stablecoins on Solana in Fireblocks-Led Study appeared on BitcoinEthereumNews.com.
In brief Minna Bank, Japan’s first digital-only bank, is piloting stablecoin and wallet use cases with Fireblocks, Solana Japan, and TIS. The study will assess the issuance of stablecoins on Solana and explore their real-world applications, including cross-border payments and asset trading. Japan’s move follows rising global interest in stablecoins, with local institutions seeking faster, cheaper alternatives to traditional banking rails. Minna Bank, Japan’s first digital-only bank and a subsidiary of Fukuoka Financial Group, announced Thursday it is exploring the use of stablecoins and digital wallets to support everyday financial services and payments in the country. The initiative is part of a joint study in collaboration with Fireblocks, Solana Japan, and Japanese tech firm TIS, aiming to assess the practical applications of stablecoins and decentralized wallets in real-world banking. The study will examine use cases including cross-border payments, real-world asset trading, and day-to-day digital payments, according to a statement shared with Decrypt. It will also examine the technical feasibility of issuing stablecoins on the Solana blockchain and evaluate how Web3 wallets can provide more intuitive financial experiences for users. The move comes as digital assets whose values are pegged to fiat currencies and commodities are experiencing a surge in interest and adoption. CEX.IO, a London-based crypto exchange founded in 2013, said a recent survey of 2,600 users found that stablecoins are increasingly being used for everyday financial activities, with 69% of respondents using them more frequently than a year ago and 54% citing lower fees than traditional banks or money transfer services. With stablecoins collectively topping $250 billion, financial institutions are ramping up efforts to implement them for purposes ranging from international settlements to tokenized deposits. Countries such as the U.S. are racing to establish stablecoin legislation, while Hong Kong’s rules are set to take effect next month. In South…
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