Bitcoin
Bitcoin (BTC)
$103,147.00 3.54132
Bitcoin price
Ethereum
Ethereum (ETH)
$2,302.93 5.17114
Ethereum price
BNB
BNB (BNB)
$629.82 3.54437
BNB price
Solana
Solana (SOL)
$138.61 6.47139
Solana price
XRP
XRP (XRP)
$2.05 3.94104
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000112 7.24521
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000093 6.81165
Pepe price
Bonk
Bonk (BONK)
$0.0000129 8.11423
Bonk price
dogwifhat
dogwifhat (WIF)
$0.73313 11.19198
dogwifhat price
Popcat
Popcat (POPCAT)
$0.278056 13.28536
Popcat price
Bitcoin
Bitcoin (BTC)
$103,147.00 3.54132
Bitcoin price
Ethereum
Ethereum (ETH)
$2,302.93 5.17114
Ethereum price
BNB
BNB (BNB)
$629.82 3.54437
BNB price
Solana
Solana (SOL)
$138.61 6.47139
Solana price
XRP
XRP (XRP)
$2.05 3.94104
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000112 7.24521
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000093 6.81165
Pepe price
Bonk
Bonk (BONK)
$0.0000129 8.11423
Bonk price
dogwifhat
dogwifhat (WIF)
$0.73313 11.19198
dogwifhat price
Popcat
Popcat (POPCAT)
$0.278056 13.28536
Popcat price
Bitcoin
Bitcoin (BTC)
$103,147.00 3.54132
Bitcoin price
Ethereum
Ethereum (ETH)
$2,302.93 5.17114
Ethereum price
BNB
BNB (BNB)
$629.82 3.54437
BNB price
Solana
Solana (SOL)
$138.61 6.47139
Solana price
XRP
XRP (XRP)
$2.05 3.94104
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000112 7.24521
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000093 6.81165
Pepe price
Bonk
Bonk (BONK)
$0.0000129 8.11423
Bonk price
dogwifhat
dogwifhat (WIF)
$0.73313 11.19198
dogwifhat price
Popcat
Popcat (POPCAT)
$0.278056 13.28536
Popcat price
Bitcoin
Bitcoin (BTC)
$103,147.00 3.54132
Bitcoin price
Ethereum
Ethereum (ETH)
$2,302.93 5.17114
Ethereum price
BNB
BNB (BNB)
$629.82 3.54437
BNB price
Solana
Solana (SOL)
$138.61 6.47139
Solana price
XRP
XRP (XRP)
$2.05 3.94104
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000112 7.24521
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000093 6.81165
Pepe price
Bonk
Bonk (BONK)
$0.0000129 8.11423
Bonk price
dogwifhat
dogwifhat (WIF)
$0.73313 11.19198
dogwifhat price
Popcat
Popcat (POPCAT)
$0.278056 13.28536
Popcat price

Japan’s second largest bank SMBC plans Avalanche stablecoin: report

Jayson Derrick
Edited by
News
Japan’s second largest bank SMBC plans Avalanche stablecoin: report

Sumitomo Mitsui Financial Group, the parent company of Japan’s second-largest bank, Sumitomo Mitsui Banking Corporation, plans to launch its own stablecoin.

The stablecoin project, according to a report published on April 1, 2025 by Nikkei, will be a collaboration between the banking giant and crypto projects Avalanche (AVAX) and Fireblocks.

Specifically, the report highlights that SMBC is teaming up with Ava Labs, the developer team behind the Avalanche blockchain.

SMBC’s reported stablecoin venture follows a prior move in 2024 that involved  the Sumitomo Mitsui Financial Group and two other Japanese financial services and banking behemoths, the Mitsubishi UFJ Financial Group and the Mizuho Financial Group. The partners were said to be eyeing a pilot for a cross-border stablecoin transfer venture, set to involve Progmat and Datachain.

In the latest report, Nikkei says SMBC will join forces with Japan-based information technology firm TIS. The partnership aims to conduct trials for the new stablecoin project in the fourth quarter of 2025 or early 2026. If successful, live issuance is expected to follow later in the year.

SMBC, like other banks turning to stablecoins for improved functionality and instant money transfers, is not new to the blockchain space.

In February 2019, the bank’s tech team completed a blockchain proof of concept for payment commitments on Marco Polo trade finance, a platform developed by R3. SMBC was part of a consortium that included Commerzbank, BNP Paribas, Anglo-Gulf Trade Bank, Standard Chartered Bank, and Danske Bank.

On the back of the R3 Marco Polo trade initiative, SMBC inched further into the blockchain ecosystem with another deal. It sought to digitize its trade finance offering with a blockchain touch, this time joining hands with  Singapore-based Contour in July 2020.

These efforts have now evolved into stablecoin development, which is drawing increasing interest across the financial services industry. This includes major banks like JPMorgan and Citi, which have made significant strides using permissioned blockchains.