#binance #hype #zec #near
21/10/25 15:05 UTC-04

Bank of Japan Recognizes the Benefits of Stablecoins

Deputy Governor of the Bank of Japan, Ryozo Himino, stated that stablecoins will play an important role in international payments and the global financial system.

The central banker believes that in the future, stablecoins could become an alternative to traditional bank deposits. Fiat-backed tokens enable fast, 24/7 transactions with low fees — a mechanism that surpasses the capabilities of conventional banks, the SWIFT international transfer system, and the ACH automated clearinghouse, he explained.

Himino urged G20 countries to adapt their banking operations to accommodate stablecoins, which “have already become a reality of the financial market.” Each G20 nation, he said, should amend its legislation and create international standards for handling stable digital currencies.

Financial institutions are already exploring the potential of stablecoins, the official noted. Recently, Japan’s three largest banks — Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank — expressed readiness to jointly launch stablecoins pegged to the yen and the U.S. dollar. The banks plan to create a unified stablecoin payment platform to optimize settlements and reduce business costs.

In February, Japan’s Financial Services Agency (FSA) announced plans to revise legislation and classify digital assets as financial products, which would bring them under regulation similar to that governing securities.

See also: "Fed Governor Wants to Give Crypto Firms Access to Central Bank Payment Infrastructure"

#Stablecoins #Bank of Japan

Editor: Yuliya Soroka
Comments

Similar

10/06/26 07:52 UTC-04

Japan’s Three Largest Banks Plan to Launch a Joint Stablecoin by 2027

Japan’s three largest banking groups, among the country’s leading financial institutions, are working on a joint stablecoin project to develop blockchain-based payment systems. According to Reuters, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group plan to issue a joint stablecoin by March 2027.

04/06/26 16:40 UTC-04

Stablecoins Backed by Strategy Shares Lose Their Dollar Peg

The sUSDat stablecoin lost its dollar peg, falling by 7% to $0.93 on Wednesday, 3 June, according to blockchain analysts at PeckShield. On Thursday, the decline became even deeper: for a short time, the stablecoin dropped to $0.90.

26/05/26 04:24 UTC-04

Total Stablecoin Market Capitalization Surpasses Historic Milestone

The total market capitalization of stablecoins has surpassed a historic milestone, reaching $322 billion. This marks the highest stablecoin market capitalization ever recorded. As a result, stablecoin reserves now exceed the foreign currency reserves of 95 countries worldwide.