Datachain Supports Mitsui Sumitomo Bank's On-Chain Financial Infrastructure Technology Review

Key Points of This Article

• Organized and evaluated technical issues, including privacy protection
• Did not mention the relationship with the three mega joint stablecoins in the announcement

Supporting Mitsui Sumitomo Bank's Infrastructure Review

On the 11th, blockchain developer Datachain announced that it has supported Mitsui Sumitomo Bank in its technical review of on-chain financial infrastructure. The focus is on the infrastructure that the bank is considering, covering a wide range of technical issues from architecture to privacy protection.

In providing support, considerations included the need for control and sovereignty required by financial institutions, future scalability, and medium to long-term operational continuity. The timing of the support and the name of the blockchain infrastructure evaluated were not disclosed in the announcement.

On-chain finance refers to initiatives that record and process financial transactions such as deposits, securities, and payments on the blockchain. Domestic banks are increasingly exploring the use of stablecoins and tokenized deposits to streamline remittances and securities settlements.

Movement of the Three Mega Joint Stablecoins

Mitsui Sumitomo Bank is jointly considering the issuance of a trust-type stablecoin (specific trust beneficiary rights) with Mitsubishi UFJ Bank and Mizuho Bank. The three banks announced that they aim to start actual transactions within the fiscal year 2026, with a basic agreement to establish a council to jointly discuss operations and governance.

On October 16, the three banks, along with Mitsubishi UFJ Trust and Banking Corporation and TISI, announced that they conducted a demonstration of cross-border payments using the stablecoin issued by the three banks as joint trustees from July 17 to 23. This was intended for settlements between domestic and international locations of Mitsubishi Corporation, confirming the feasibility of the joint issuance model and the safety and reliability of the system. The announcement did not clarify whether Datachain's support is directly related to these initiatives.

About Datachain

Datachain was established in March 2018. It engages in businesses related to stablecoins, tokenized deposits, corporate Web3 wallets, cross-chain infrastructure, and privacy infrastructure, providing "on-chain financial technology consulting" to support financial institutions from conceptual review to commercialization. Its parent company is Speee, listed on the Tokyo Stock Exchange Standard.