Japanese digital bank Minna no Ginko launched a project to explore the issuance of stablecoins on the Solana blockchain and the creation of a Web3 wallet for businesses and individuals.
Minna no Ginko, a subsidiary of Fukuoka Financial Group (FFG), a major regional banking holding company in Japan, announced the start of an initiative aimed at verifying the technical feasibility of issuing stablecoins pegged to fiat currencies and tokenized assets, as well as assessing the practical application of blockchain wallets for both individuals and legal entities.
Minna no Ginko’s project partners include:
- Solana Japan, coordinator and technical partner of the Solana Foundation in Japan;
- Fireblocks, an international provider of infrastructure and custodial solutions for digital assets;
- TIS, a Japanese IT and consulting company.
Within the collaboration, Solana Japan will coordinate with the Solana Foundation and provide technical support. Fireblocks will supply infrastructure and expertise for token issuance and custodial services. TIS will contribute experience in building financial systems.
Together, the companies will study the technical verification of issuing stablecoins pegged to tokenized real-world assets (RWA), such as financial instruments and real estate, and explore the use of RWA tokens in digital payments. The research results are planned to be integrated into Minna Bank’s product portfolio. Moreover, the partners aim to develop a Web3 wallet that will allow users to seamlessly interact with blockchain services via the Minna no Ginko app.
The project launch follows the enforcement in Japan of the updated Payments Services Act in June 2023, which established the legal status of stablecoins and paved the way for their practical use. Recall that in 2024, the global transaction volume using stablecoins reached $27.6 trillion, and in 2025 fiat-backed stablecoins became the main driver of growth in the RWA market.
Minna no Ginko (Minna Bank, Ltd.) is Japan’s first fully digital bank, founded in May 2021 as a subsidiary of Fukuoka Financial Group. The bank provides all services exclusively through a mobile app, without physical branches or plastic cards. For businesses, it pursues a BaaS (Banking-as-a-Service) strategy focused on embedding financial services. By the end of 2023, assets under management reached 26 billion yen (~$180 million), and as of July 2025, the bank serves over 1.3 million customers.
According to Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks, over 70% of Minna Bank’s customers are aged between 15 and 39. This is a “demographic underserved by traditional banks,” Richardson said. That’s why the Minna no Ginko ecosystem is an ideal environment to test stablecoin-based solutions.
Earlier in 2025, it was announced that Sumitomo Mitsui Banking Corporation (SMBC), Japan’s second-largest bank, plans to develop its own stablecoin aimed at integration into payments and tokenized assets.
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