– Japan approves first yen-pegged stablecoin via JPYC, regulated by FSA with 1:1 reserve backing.
– New Payment Services Act mandates stablecoin issuers to hold bank licenses or trust company status.
– Yen-backed token aims to reduce USD stablecoin reliance while boosting blockchain trade and DeFi adoption.
– Expected to increase demand for JGBs, mirroring U.S. stablecoin impacts on Treasury markets.
– Positions Japan as a global leader in regulated digital assets, enhancing financial sovereignty and fintech appeal.
AloJapan.com