The Japanese banking giant is the latest example of a roster of firms eyeing the booming stablecoin market, which has grown some 50% to around $230 billion in a year.

SMBC is partnering with Ava Labs and Fireblocks to launch a stablecoin, enhancing cross-border payments, as Japan leads in stablecoin regulations.

Armstrong’s comments came ahead of the House Financial Services Committee’s Wednesday markup of its version of stablecoin ...

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