Exploration of stablecoins by Japan's Minna no Bank on Solana network
Minna no Bank, Japan's first fully digital native bank, has announced a new stablecoin issuance technology verification project, set to commence in July 2025. The innovative collaboration with Fireblocks, Solana Japan, and TIS Inc. aims to integrate stablecoins into everyday financial services, such as payments, purchasing real-world assets, and Web3 wallet usage.
The project, which leverages Solana's high-speed, low-cost blockchain technology combined with Fireblocks' secure custody solutions and TIS's integration capabilities, seeks to enhance efficiency and cost-effectiveness in financial transactions within Japan's evolving regulatory landscape. The focus areas include daily payments, on-chain banking infrastructure, cross-border transfers, and asset tokenization.
Compared to Minna Bank’s previous experiments with Japan Open Chain, the new collaboration is more comprehensive and technologically advanced. While earlier efforts explored stablecoin concepts on a domestic blockchain platform, the current project utilizes Solana’s globally recognized, scalable blockchain known for its speed and low transaction fees, combined with Fireblocks’ institutional-grade security and TIS’s seamless integration capabilities.
The project targets a mobile-first, 15–39 age group, reflecting a broad trend among banks worldwide transitioning from pilot projects to larger stablecoin implementations to reduce costs and increase transaction speeds. This shift is evident in Japan, where institutions, including Minna no Bank, are showing a desire to engage with larger public blockchains that offer broader reach.
Minna no Bank's latest experiments will involve Fireblocks and local IT company TIS. Notably, TIS has partnered with Japan's second largest bank, SMBC, to explore a stablecoin issuance using the Avalanche blockchain. TIS is also involved in other Japanese stablecoin initiatives, demonstrating a growing interest in blockchain technology for real-world asset tokenization and broader consumer adoption.
Japan has comparatively advanced real estate tokenization, with regular issuances by real estate firms and financial institutions. The primary objective of the Minna no Bank project is to use stablecoins for settling transactions involving tokenized real-world assets, such as digital bonds and real estate.
In summary, the new project positions Minna Bank at the forefront of Japan’s stablecoin and blockchain innovation, adapting to modern consumer needs and regulatory environments with advanced technology partnerships. The shift from the Japan Open Chain blockchain to Solana marks a significant step towards practical application and scaling within Japan’s financial infrastructure.
- Minna no Bank's new project, which commences in July 2025, aims to integrate stablecoins into everyday financial services, such as payments, purchasing real-world assets, and Web3 wallet usage.
- The project leverages Solana's high-speed, low-cost blockchain technology combined with Fireblocks' secure custody solutions and TIS's integration capabilities, seeking to enhance efficiency and cost-effectiveness in financial transactions.
- The primary objective of the Minna no Bank project is to use stablecoins for settling transactions involving tokenized real-world assets, such as digital bonds and real estate.
- TIS, a local IT company involved in the Minna no Bank project, has partnered with Japan's second largest bank, SMBC, to explore a stablecoin issuance using the Avalanche blockchain, demonstrating a growing interest in blockchain technology for real-world asset tokenization and broader consumer adoption.
