Mitsubishi UFJ and Other Major Banks to Develop a System for Purchasing Stocks with Stablecoins

Nomura Holdings and Daiwa Securities Group are planning to develop a framework in collaboration with the three megabanks—Mitsubishi UFJ Bank, Sumitomo Mitsui Bank, and Mizuho Bank—that will allow for the purchase of stocks, bonds, and other financial instruments using stablecoins, as reported by the Nikkei on the 10th. The initiative targets not only stocks and bonds but also focuses on Money Management Funds (MMFs) that primarily invest in investment trusts and short-term government bonds, aiming for practical use within a few years. The plan involves converting stocks and other assets into digital securities and settling transactions with stablecoins.