{"id":7592,"date":"2025-10-21T01:23:14","date_gmt":"2025-10-21T01:23:14","guid":{"rendered":"https:\/\/acudc.com\/?p=7592"},"modified":"2025-10-21T01:24:05","modified_gmt":"2025-10-21T01:24:05","slug":"japans-big-3-banks-to-use-stablecoins-swift-for-cross-border-payments","status":"publish","type":"post","link":"https:\/\/acudc.com\/th\/japans-big-3-banks-to-use-stablecoins-swift-for-cross-border-payments\/","title":{"rendered":"Japan\u2019s big 3 banks to use stablecoins, Swift for cross border payments"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"7592\" class=\"elementor elementor-7592\">\n\t\t\t\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-624d676d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"624d676d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5b01699e\" data-id=\"5b01699e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-309872b elementor-widget elementor-widget-image\" data-id=\"309872b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.2 - 21-08-2022 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"794\" height=\"477\" src=\"https:\/\/acudc.com\/wp-content\/uploads\/2025\/10\/News1022.02.png\" class=\"attachment-large size-large\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/acudc.com\/wp-content\/uploads\/2025\/10\/News1022.02.png 794w, https:\/\/acudc.com\/wp-content\/uploads\/2025\/10\/News1022.02-300x180.png 300w, https:\/\/acudc.com\/wp-content\/uploads\/2025\/10\/News1022.02-768x461.png 768w, https:\/\/acudc.com\/wp-content\/uploads\/2025\/10\/News1022.02-18x12.png 18w\" sizes=\"(max-width: 794px) 100vw, 794px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d5cd177 elementor-widget elementor-widget-text-editor\" data-id=\"7d5cd177\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.2 - 21-08-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h2><!-- wp:list --><\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul><!-- wp:list-item --><\/ul>\n<\/li>\n<\/ul>\n<p>Image by Ledger Insights<\/p>\n<p>Japan\u2019s big 3 banks, MUFG, SMBC and Mizuho are involved with with a cross border payment system, Project Pax, that aims to use stablecoins instead of correspondent banks. However, in order to ensure that corporate customers can trigger trade payments in the conventional manner via their banks, Swift payment messages will be integrated with the stablecoin system, which is based on Progmat. Hence, the clients don\u2019t touch the stablecoins.<\/p>\n<p>Given the efficiencies of stablecoin payments, the aim is to support 24\/7 payments to address the G20\u2019s goals for faster, cheaper, more transparent cross border payments. The total market capitalization of stablecoins has reached $170 billion with cryptocurrency as the primary use case, although they are also used for P2P payments.<\/p>\n<p>Meanwhile, Progmat is a DLT-based tokenization network founded by MUFG, in which Mizuho and SMBC are joint venture partners alongside other institutions. Additionally, there\u2019s a Progmat Coin solution which is primarily used for trust-based stablecoins, which have ring-fenced assets.<\/p>\n<p>\u00a0<\/p>\n<p>Retrieved from: <a href=\"https:\/\/www.ledgerinsights.com\/japans-big-3-banks-to-use-stablecoins-swift-for-cross-border-payments\/\">https:\/\/www.ledgerinsights.com\/japans-big-3-banks-to-use-stablecoins-swift-for-cross-border-payments\/<\/a><\/p>\n<p><!-- \/wp:paragraph --><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":6,"featured_media":7585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[15,9],"tags":[75,45],"_links":{"self":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts\/7592"}],"collection":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/comments?post=7592"}],"version-history":[{"count":4,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts\/7592\/revisions"}],"predecessor-version":[{"id":7596,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/posts\/7592\/revisions\/7596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/media\/7585"}],"wp:attachment":[{"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/media?parent=7592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/categories?post=7592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acudc.com\/th\/wp-json\/wp\/v2\/tags?post=7592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}