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FollowingThe Financial Services Agency of Japan approves fourth stablecoin pilot to expand cross-border trade settlement applications
The Financial Services Agency of Japan (FSA) has approved its fourth stablecoin pilot project, extending the scope of its "Payment Innovation Plan"(PIP) to cross-border trade settlement. The initiative aims to allow trade finance to benefit from stablecoin-based solutions to speed up collection by exporters and enable banks to automate processes such as payment instructions and receipt confirmations.
The scope of the pilot has been expanded to include trade finance
This pilot has attracted the return of institutions that have previously participated in other projects, including Japan's three major superbanks: Mizuho Bank, Mitsubishi UFJ Bank and Sumitomo Mitsui Bank. In addition, Mitsubishi UFJ Trust Bank and NTT data and trading platform operator TradeWaltz have also joined the project. The total assets managed by these banks totaled US$6.8 trillion.
The program leverages TradeWaltz's software-as-a-service (SaaS) platform, which enables the digitization of international trade documents. Currently, Japan's cross-border transactions still rely heavily on traditional paper-based processes such as letters of credit and bills of lading.
During the pilot process, stablecin payments can be activated when exporters upload transportation documents to TradeWaltz. After the bank reviews and approves relevant documents, export receivables will be settled through stable currencies. Currently, the pilot only covers settlements between exporters and their banks, but is considering extending coverage to importers and their banks in the future.
一旦出口商通过TradeWaltz上传必要的运输文件并获得银行批准，稳定币支付便会自动触发，从而实现更快的结算速度以及出口商与银行之间确认流程的自动化。
该项目涉及的由信托支持的日元稳定币预计将于2027年3月结束的财政年度内准备好用于商业交易。TradeWaltz确认，参与的金融机构将合作审查结算代币，该代币是通过PIP早期举措开发的。
背景与监管环境
金融厅的声明标志着PIP批准的第四个项目，也是自2017年“金融科技概念验证中心”启动以来的第十五个整体项目。该专注于支付的部门由区块链技术、金融法律和国际趋势方面的专家运营。PIP轨道始于2025年11月，推出了一系列逐步扩大日本受监管数字资产使用范围的项目。
首个PIP项目于2025年11月启动，涉及三大超级银行制定联合发行支付稳定币的计划。第二个试点于2026年2月宣布，与野村和大和证券合作，将框架扩展至区块链上的证券转移。2026年4月，DeCurret DCP和 GMO青空网络银行主导了第三个项目，侧重于代币化存款的银行间结算。
据TradeWaltz称，这项新的贸易金融试点延伸了团队在稳定币项目方面的经验。相关机构概述了一个更长期的路线图，包括智能合约托管和电子提单，旨在将更多的贸易工作流程转移到区块链基础设施上。
正如每个支付创新项目案例一样，金融厅计划在试验结束时公布有关合规性和监督结果的发现。虽然尚未确定具体的结束日期，但该试点将于2026年9月开始，并预计持续至实时测试的初期阶段。
此次试点符合日本对数字资产的更广泛战略。截至2026年8月，金融厅成立了加密资产和稳定币部门，作为将加密货币重新分类为金融产品并调整数字资产税制努力的一部分。
简化投资者市场准入
鉴于数字资产生态系统的快速演变——美联储的单一决策或意外的山寨币上市都可能导致市场方向瞬间变化——投资者面临着监测多个来源以获取及时数据的压力。这种碎片化往往导致错失机会和成本增加。因此，越来越多的交易者采用隐私导向的平台，如CryptoAppsy，该平台在一个界面中统一了实时图表、价格警报、特定币种新闻和宏观经济指标，且无需注册账户即可提供这些工具。
