Japan’s DeFi Yen System Marks a Structural Shift in Financial Infrastructure
Japan's initiative to build a decentralized finance (DeFi) yen system underscores a broader transformation in global finance. The $95 billion total value locked (TVL) in DeFi protocols, as reported by CryptoQuant using DeFiLlama data, signals more than a recovery—it reflects sustained capital inflows driven by real demand rather than speculative yield-chasing.
The post-2021 market correction stripped away the froth, leaving behind a more mature ecosystem. DeFi is no longer viewed merely as a high-yield playground but as foundational infrastructure. This shift replaces intermediaries with smart contracts, transferring trust from institutions to code. Self-custody sits at the heart of this change, with Japan's Hashport Wallet democratizing access to private key ownership for mainstream users.
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