TOKYO (Reuters) -Japan's Financial Services Agency has decided to support a project by the country's three largest banks to jointly issue stablecoins, Finance Minister Satsuki Katayama said on Friday. Katayama, who also oversees the FSA, made the comment in a news briefing after a regular cabinet meeting. The banking arms of Japan's three largest financial groups - Mitsubishi UFJ Financial Group , Sumitomo Mitsui Financial Group and Mizuho Financial Group - will jointly issue stablecoins which will be tested for use for cross-border payments, MUFG said in a release on Friday. The FSA will assess whether the service can be carried out legally and appropriately, it said on Friday. (Reporting by Makiko Yamazaki; Writing by Leika Kihara; Editing by Chris Reese and Christian Schmollinger) (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
