‍Japan Approves First Yen-Denominated Stablecoins

Japan's Financial Services Agency (FSA) is set to approve yen-denominated stablecoins this fall, marking a significant step in the nation's digital finance evolution. Tokyo-based fintech firm JPYC will launch its stablecoin, pegged 1:1 to the yen and backed by assets like government bonds.

This development could substantially impact Japan's bond market, potentially increasing demand for Japanese Government Bonds (JGBs), similar to trends seen with US Treasurys. Circle's USDC has also received regulatory approval, becoming the first foreign-issued stablecoin cleared for the Japanese market.

https://cryptovka.ru/en/news/3824/japan-s-digital-yen-revolution-first-stablecoins-approved