Question 1

Who is taking part in the fourth PIP pilot?

Accepted Answer

The applicants are TradeWaltz, NTT Data, Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mitsubishi UFJ Trust and Banking, according to the FSA notice and the companies' joint release.

Question 2

What will the experiment actually test?

Accepted Answer

It will link the TradeWaltz platform to a stablecoin system so that a bank's approval to buy an exporter's receivable triggers a stablecoin payment, while the participants work through the technical and legal questions that raises.

Question 3

How does this fit into Japan's other stablecoin efforts?

Accepted Answer

It is the fourth project under the FSA's Payment Innovation Project and the fifteenth under its FinTech Proof-of-Concept Hub, and it reuses the three megabanks that are separately building a jointly issued yen stablecoin they aim to bring live by March 2027.

Tradewaltz

Japan’s FSA focuses on trade finance with fourth stablecoin pilot

One sharp brief.
Every day.

Tradewaltz

Japan’s FSA focuses on trade finance with fourth stablecoin pilot

One sharp brief.Every day.

One sharp brief.
Every day.