The largest Japanese banks to use the SWIFT-Linked Stablecoin system for cross-border payments

The biggest Japanese banks—MUFG, SMBC and Mizuho—plan to use a stablecoin-based system to facilitate cross-border payments in the future. Project Pax is an initiative that replaces correspondent banks with blockchain technology, connecting users to SWIFT so that they can initiate payments traditionally using standard banking channels. Japanese banks want to destroy traditional middlemen with a blockchain-based Stablecoin system […]