Reported about 8 hours ago
Japan is set to introduce the world's first yen-pegged stablecoin, JPYC, which will be fully convertible to yen and backed by local savings and Japanese government bonds. This launch indicates a significant shift in a nation traditionally reliant on cash and credit cards, amidst global trends embracing digital currencies. The move may accelerate the adoption of stablecoins in Japan, particularly with the involvement of major banks, despite concerns over potential regulatory challenges.
Source: YAHOO