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Japan to Approve First Yen-Backed Stablecoin This Autumn
Japan to Approve First Yen-Backed Stablecoin This Autumn
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BTCCSquare news:
Japan is set to greenlight its first yen-denominated stablecoin as early as October, signaling a significant milestone in the country's digital asset strategy. The Financial Services Agency's approval will enable Tokyo-based fintech firm JPYC to issue the stablecoin, which will be pegged to the yen through reserves of liquid assets like deposits and government bonds.
The JPYC stablecoin aims to streamline international remittances, corporate settlements, and cross-border payments. Institutional investors are already eyeing the token for carry trades, while individuals and businesses will gain access to a new tool for global transactions—from funding students abroad to facilitating seamless corporate transfers.
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