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Japanese Minna no Bank Plans Stablecoin Exploration on Solana
Summary: Japanese digital bank Minna no Bank, a subsidiary of the Fukuoka Group, announced a partnership with Fireblocks and local IT company TIS to conduct stablecoin experiments on the Solana blockchain. The exploration will focus on applications for consumers and businesses, particularly in the use of stablecoins in real-world asset (RWA) transactions such as digital bonds ...
Japanese digital bank Minna no Bank, a subsidiary of the Fukuoka Group, announced a partnership with Fireblocks and local IT company TIS to conduct stablecoin experiments on the Solana blockchain. The exploration will focus on applications for consumers and businesses, particularly in the use of stablecoins in real-world asset (RWA) transactions such as digital bonds and real estate settlements. Previously, the bank had conducted stablecoin trials with Tokyo Kiraboshi Financial Group and Shikoku Bank on the Japan Open Chain, a local Ethereum-compatible chain in Japan. The expansion to the public Solana chain demonstrates Japanese institutions' interest in globally impactful public blockchains. TIS is also involved in multiple stablecoin projects in Japan, including with SMBC (Sumitomo Mitsui Banking Corporation), while Fireblocks is participating in projects planning to utilize the Avalanche chain.
