SMBC Group signs agreement with TIS, Ava Labs and Fireblocks to explore the commercialization of stablecoins
News on April 2nd, Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation (SMBC), TIS, Ava Labs and Fireblocks have signed a memorandum of understanding to jointly explore the future commercialization and application of stablecoins. According to the agreement, all parties will cooperate in developing a framework for issuing and circulating stablecoins, focusing on technology, regulation and market infrastructure needs. The discussion is not limited to pilot projects but will also define specific use cases for stablecoins in business applications.
In addition, the collaboration will explore potential applications of stablecoins as settlement tools, including their use for tokenizing financial assets and tangible assets (such as government and corporate bonds, real estate) settlements.
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