News on April 2: Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation (SMBC), TIS, Ava Labs, and Fireblocks signed a memorandum of understanding for joint research on the future commercialization and application of stablecoins. According to the agreement, all parties will collaborate on developing frameworks for the issuance and circulation of stablecoins, focusing on technological, regulatory, and market infrastructure needs. The discussions will not be limited to pilot projects but will also identify specific use cases for stablecoins in business applications.

Additionally, the collaboration will explore potential applications of stablecoins as settlement instruments, including their use for tokenizing financial assets and tangible assets (such as government and corporate bonds, real estate) in settlements.$USDC