Japan’s FSA to Approve First Yen-Backed Stablecoin in Fall 2025

TLDR Japan’s Financial Services Agency (FSA) will approve JPYC as the country’s first yen-pegged stablecoin this fall JPYC will be backed by bank deposits and Japanese government bonds The global stablecoin market has expanded to over $286 billion, currently dominated by USD-pegged tokens Yen stablecoins could boost demand for Japanese government bonds Circle’s USDC was [...]

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