"Asia’s banks are developing stablecoins to keep deposits and capture cross-border payments, but fragmented regulations and gaps in payment infrastructure could limit how quickly the technology scales. “Banks are rolling out stablecoin capabilities to prevent deposits and payments from shifting to nonbank issuers,” Michael Benz, head of the Asia-Pacific region at AMINA Group AG, said. Japan’s three megabanks said in June they plan to conduct commercial transactions using stablecoins by March 2027."