Project Pax

Japanese Banks Launch Project Pax to Revolutionize Cross-Border Payments with Stablecoins

cryptosheadlines3 months ago06 mins

September 7, 2024 at 12:10 PM GST updated: September 7, 2024 at 10:43 AM 2 mins read Crypto Live News Japan’s largest banks are launching Project Pax to integrate stablecoins into cross-border payments, using familiar systems like SWIFT. Stablecoins, pegged to the yen, aim to minimize currency fluctuation risks in international trade, following Japan’s 2022…

Largest Japanese Banks to Use SWIFT-Linked Stablecoin System for Cross-Border Payments

cryptosheadlines3 months ago01 mins

The largest Japanese banks—MUFG, SMBC, and Mizuho—plan to use a stablecoin-based system to facilitate cross-border payments in the future. The initiative, Project Pax, replaces correspondent banks with blockchain technology, linking it to SWIFT to allow users to initiate payments conventionally using regular banking rails. Japanese Banks Aim to Ditch Intermediaries for Blockchain-Based Stablecoin System Traditional…

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Japanese Banks Launch Project Pax to Revolutionize Cross-Border Payments with Stablecoins

Largest Japanese Banks to Use SWIFT-Linked Stablecoin System for Cross-Border Payments