A Digital-Only Bank Disrupting the Status Quo
In the bustling world of finance, where legacy institutions often move slowly, Minna Bank stands apart. It isn’t just another money provider—it’s Japan’s first fully digital-native bank, launched by Fukuoka Financial Group. What sets it apart isn’t superficial branding or flashy apps. It’s built from the ground up on cloud-native architecture, delivering 24/7 access through a clean, intuitive interface tailored for mobile-first users. Over 70 percent of its customers are aged between 15 and 39—a group largely overlooked by traditional banks.
Minna Bank’s mission is simple yet ambitious: weave seamless financial experiences into daily life. Imagine checking your account, paying for groceries, or trading a tokenized asset—all from a single modern banking app. Rather than imposing new interfaces, the bank integrates financial services with real-world routines.
Now, Minna Bank is opening a new chapter. It has launched a high-stakes collaboration with powerhouse players in crypto infrastructure: Fireblocks for institutional-grade custody, Solana for high-throughput blockchain rails, and TIS for tech integration. The goal is clear—test stablecoin issuance and Web3 wallet usage to evolve everyday banking.
If this pilot delivers on its promise, it won’t just change payments in Japan—it could redefine banking for digital natives globally.
Why Now? Stablecoins at a $250 Billion Market, and Why Japan is Paying Attention
The stablecoin market has grown from niche experiment to cornerstone of modern finance, surpassing a staggering $250 billion in market capitalization. That’s more than many central banks manage in reserves. What’s more telling is how stablecoins are moving from speculative portfolios into mainstream utility. Today, they settle trades, power payments, and underpin tokenized assets. Banks are no longer curious spectators—they’re leading research, piloting, and issuing stablecoins.
Japan’s regulators have done more than permit crypto—they’ve actively fast-tracked stablecoin frameworks and encouraged institution-led trials. Within this context, Minna Bank’s timing isn’t accidental. The trial aligns with a global banking trend exploring cross-border commerce, asset tokenization, and seamless integration. Stablecoins and Web3 wallets tied into core banking interfaces offer customers ease without complexity.
Minna Bank’s pilot specifically targets issuance on Solana due to its high throughput and low latency—capabilities necessary for real-time, retail-scale financial services. For Fireblocks, it’s an opportunity to validate institutional custody, AML/KYT compliance, and smart-control flows within a regulated context.
By launching this initiative now, Minna Bank positions itself at the forefront of tokenized banking. It’s moving from digital banking to blockchain-native financial services—just in time to redefine trust and convenience in the digital age.
Who’s Involved: Minna Bank, Fireblocks, Solana Japan & TIS
The architects behind this groundbreaking initiative form a powerful coalition of digital-native innovation, institutional security, blockchain infrastructure, and tech integration.
Minna Bank, Japan’s first fully digital-native bank, is spearheading the effort. Backed by Fukuoka Financial Group, it serves a mobile-native audience where over 70% of customers are under 40 years old. The bank’s lightweight, cloud-first core already champions always-on, intuitive financial services. But now it’s venturing into blockchain, seeking to redefine everyday banking through programmatic, token-based finance.
Fireblocks brings institutional-grade custody and transaction infrastructure to the table. Its secure MPC (multi-party computation) vaults protect private keys, shield transaction flow with strong compliance rails, and support tokenization workflows across over 100 blockchains. That makes it ideal for a regulated banking environment requiring compliance with AML and KYC.
Solana Japan represents the high-speed backbone of the project. Solana’s proof-of-stake blockchain processes thousands of on-chain transactions per second, with sub-second finality and transaction fees measured in cents. This combination makes it an ideal candidate for scaled retail use cases, where traditional blockchains often choke under volume.
TIS, a leading Japanese IT integrator, ties the ecosystem together. With deep experience in enterprise architecture, data flows, and compliance-heavy systems, TIS can seamlessly connect Solana’s blockchain layer and Fireblocks’ custody framework into Minna Bank’s core banking stack—that’s essential groundwork for any real-world rollout.
Together, they form a four-part collaboration: Minna sets business strategy and engages customers, Fireblocks secures the assets, Solana provides scalable infrastructure, and TIS bridges blockchain with banking systems—all operating under Japan’s supportive regulatory framework.
What They’re Testing: Key Use Cases
This pilot moves beyond proof-of-concept. It zeroes in on real-world banking scenarios where stablecoins and Web3 wallets could elevate everyday financial services.
Minna Bank plans to mint a yen-backed stablecoin on Solana. That means 1:1 backing in cash or cash equivalents, issued under compliance and auditability. With Solana’s low costs and high throughput, the project will assess whether such issuance can scale to everyday consumer and corporate use.
They’re focusing on how stablecoins could streamline domestic and cross-border payments. Solana’s sub-second transfers and low fees—even compared to payment rails like Visa—make it attractive for real-time purchases, remittances, or merchant settlements.
One striking use case involves tokenized assets like digital bonds or real estate. Pilots will examine whether stablecoins could settle these transactions efficiently, reducing middleman friction and delays.
Minna will embed a Web3 wallet into its app, aiming for frictionless onboarding—no seed phrases, intuitive signing flows, full transparency, and integrated compliance—all via Fireblocks. The goal is to make using a blockchain wallet as natural as sending an email or paying a utility bill.
Japan’s trade-heavy economy could benefit from stablecoins denominated in multiple jurisdictions. This part of the trial tests near-instant FX transfers and compliance-friendly global remittances, skipping slow, costly correspondent banking.
These use cases are being piloted concurrently to test the full end-to-end path—from issuance, to wallet integration, to real-world usage across payments and asset trading. The study seeks clear metrics: transaction speed, cost savings, user satisfaction, integration ease, and compliance adherence. The insights gained will determine whether Minna Bank can evolve into a token-native financial service that feels familiar yet delivers breakthrough efficiency.
Why Solana & Fireblocks? Scalability, Security, and Custody
Minna Bank’s choice of Solana and Fireblocks isn’t coincidental—it reflects a deliberate match between technical capability and institutional rigor. Solana handles thousands of transactions per second with sub-second confirmation times, and transaction fees often fall below a few cents. That’s crucial for everyday banking where speed and cost efficiency matter for micropayments or frequent transfers. Traditional chains can bog down under real-world retail volume, but Solana remains fluid and scalable even as usage spikes.
On the security side, Fireblocks offers multi-party computation vaults that split private keys across multiple nodes without any single entity holding full control. That makes them both secure and compliant. Fireblocks supports compliance workflows like KYC/AML and KYT natively—eliminating the traditional tension between blockchain freedom and institutional oversight.
Together, they form a powerful duo: Solana’s performance meets Fireblocks’ institutional-grade infrastructure. Their integration, managed by TIS, allows Minna Bank to issue compliant yen-backed stablecoins and run transactions at scale. This isn’t an academic exercise—it’s a live test on blockchain rails tailored for real-world, regulated banking.
Web3 Wallets: A New Banking Channel
The wallet is where banking meets the user. For many, Web3 wallets still feel complex—seed phrases, manual signing, security warnings. Minna Bank aims to rewrite that script. By integrating a wallet directly within its mobile banking app, the pilot removes friction entirely. No separate app downloads, no rerouting, no diving into blockchain-specific jargon. Customers could send stablecoins to a friend, pay a merchant, or interact with a tokenized asset all within the same familiar interface.
Behind the scenes, Fireblocks provides custody and transaction signing so that users don’t manage private keys. Minna’s own platform handles permissions, compliance flows, and UI/UX—effectively hiding the blockchain plumbing from the end user. It’s a wallet experience built for non-tech-native populations, yet secure enough to satisfy regulators and risk teams.
The goal isn’t to create a separate crypto banking product—it’s to blur the line between traditional and tokenized finance. This wallet is designed to make stablecoins and Web3 interactions feel as natural as paying with a debit card or checking your balance. That seamless experience might just pave the way for broader adoption—not just in Japan, but anywhere banks want to serve digital-first customers without leaving compliance behind.
Regulatory Landscape in Japan: A Pro‑Innovation Approach
Japan’s regulatory environment around stablecoins and digital assets is both forward-thinking and structured, striking a clear balance between innovation and consumer protection. Under the Payment Services Act, digital money–type stablecoins are treated as electronic payment instruments. Only licensed banks, trust banks, and registered fund transfer providers are permitted to issue them. These issuers are obligated to fully back each coin with reserves, whether as cash for banks or collateralized holdings for non-bank players.
If banks issue stablecoins, they’re backed with depositor safeguards. Holders benefit from deposit insurance coverage of up to ¥10 million—providing a familiar safety net for users. Trust banks and transfer service providers must escrow funds or use specified assets like government bonds under strict controls.
Since recognising crypto assets as legitimate financial instruments in 2017, Japan’s Financial Services Agency has steadily refined its framework to foster pilot programmes and clarify the rules for digital assets. This regulatory clarity has created a stable operating environment for trials.
Minna Bank’s pilot fits neatly within this regulated sandbox. The involvement of licensed entities like Fireblocks and TIS and the bank’s institutional oversight means compliance can be baked into product design. Meanwhile, another major player, Sumitomo Mitsui Financial Group, is planning a pilot with Avalanche, Fireblocks, and TIS—slated for late 2025—highlighting institutional momentum.
Japan’s stance contrasts with regulatory uncertainty in many other economies. Instead of blocking innovation, the FSA has embraced it—guiding stablecoin development through licensing, safeguards, and regulatory transparency. This positions Japanese institutions like Minna to pioneer practical use cases under defined guardrails.
Global Context: Why This Matters Beyond Japan
Minna Bank’s pilot isn’t just Japan’s story; it’s part of a global overhaul touching financial rails worldwide. Globally, stablecoins—particularly USD-pegged ones like USDT and USDC—now command over $250 billion in market supply. Estimates forecast this could soar to nearly $2.8 trillion by 2028 as banks, corporates, and fintechs deepen adoption.
Japanese institutions like MUFG, SMBC, and Mizuho began stablecoin and blockchain-based cross-border pilots as early as late 2024. For instance, they experimented with linking stablecoins to SWIFT messaging for B2B payments, evaluating speed, transparency, and compliance improvements over legacy systems.
Meanwhile, banks outside Japan are moving in similar directions. In the U.S., firms like Bank of America, Visa, Mastercard, and PayPal are exploring interoperable stablecoins and tokenized deposits, with potential frameworks under the U.S. Genius Act in motion. Société Générale already issues a Euro-backed stablecoin, and in South Korea corporate and financial actors are exploring digital assets via regulated pilot projects.
This global wave shows a consistent pattern. Institutions—from neobanks to global financial giants—are addressing cross-border friction, cost inefficiencies, and programmability gaps inherent in traditional systems. Stablecoins offer a standardized, 24/7 settlement layer across assets, borders, and use cases.
As this global momentum gains mainstream traction, the Minna Bank study could serve as a model for integrating compliant stablecoins with traditional banking interfaces. Japan’s regulatory clarity and pragmatic pilot framework may well offer a blueprint for other countries to follow.
Real-World Benefits: What’s In It for Users and Institutions?
Minna Bank’s pilot is more than a technological demonstration—it’s a vision for how banking could evolve in a world where trust, speed, and access matter more than ever. For users, the benefits are immediate and practical. Stablecoin payments can be settled in seconds rather than days, with fees lower than a typical wire transfer or even a domestic remittance. That’s a game changer for freelancers, global families, digital merchants, and everyday spenders alike.
Customers no longer need to learn a new app, platform, or wallet interface. By embedding the Web3 wallet into Minna’s existing mobile banking app, the user experience remains familiar. It doesn’t require managing cryptographic keys or interacting with opaque smart contracts. Instead, it feels like online banking—just faster, cheaper, and borderless.
Institutions benefit in equally profound ways. Tokenized assets like bonds, loyalty points, or real estate can be created, tracked, and settled in real time. Compliance processes such as anti-money laundering and real-time monitoring can be integrated directly into on-chain transactions through programmable logic. What once required layers of back-office coordination could now happen instantly.
In regions with strict regulatory demands, a well-designed stablecoin system like Minna’s prototype allows institutions to remain compliant while leveraging the agility of digital assets. Banks can serve Web3-native users without compromising security. Asset managers and fintechs can use tokenized rails for instant liquidity and operational efficiency. Even governments and tax authorities benefit from the transparency of on-chain records that still respect user privacy through smart architecture.
When stablecoins and Web3 wallets are integrated into trusted bank frameworks, they don’t replace banking—they evolve it. Minna’s pilot shows how blockchain tech can become invisible, woven into the background of our financial lives, powering experiences that simply feel faster, more fair, and more human.
The Road Ahead: What Success Could Look Like
This pilot is just the beginning. The insights gleaned from Minna Bank’s experiment with Fireblocks, Solana, and TIS will influence not only product development but also regulation, interoperability standards, and competitive strategy across Japan’s financial sector and beyond.
If successful, Minna Bank could begin full issuance of a yen-backed stablecoin, potentially opening APIs to merchants, fintech partners, and payment platforms. This could pave the way for third-party stablecoin wallets to link into Minna’s core system, driving new transaction volume and customer segments.
The next step would involve expanding the wallet’s feature set to support staking, asset tokenization, peer-to-peer transfers, and programmable payments. Integration with digital identity verification and reputation scoring could make the Web3 wallet a gateway to insurance, credit, and capital markets.
Regulatory frameworks, now being tested, could be finalized with updated licensing models, reporting standards, and risk controls. This would offer a template for other banks and countries seeking to launch similar initiatives. As interoperability improves, yen-backed stablecoins may become exchangeable with USD, EUR, and other fiat-backed assets across cross-chain bridges—accelerating cross-border commerce.
Ultimately, the success of this project lies in creating a seamless, compliant, scalable system where blockchain technology is no longer the focus—it’s just the infrastructure. The real value will be judged not by what protocol was used or how tokens were issued, but by how effortlessly users send money, store value, and trust the system to work, day or night.
In that future, banking won’t look like an app. It will look like anything you need it to be—global, intuitive, secure, and always on.
