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Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation (SMBC), TIS, Ava Labs, and Fireblocks have signed a memorandum of understanding to jointly explore the future commercialization and application of stablecoins. According to the agreement, all parties will collaborate to develop a framework for the issuance and circulation of stablecoins, with a focus on researching technical, regulatory, and market infrastructure needs. This discussion is not limited to pilot projects, but will also clarify the specific usage scenarios of stablecoins in commercial applications. In addition, the collaboration will explore the potential applications of stablecoins as settlement tools, including for tokenizing financial assets and settling actual assets such as government and corporate bonds, real estate.