Stablecoin will contribute to the mass adoption of crypto assets.
XRP leisure, which combines all functions, will change the current payment domain.
In light of the implementation of the revised Funds Settlement Act, what are your thoughts on how stablecoins will be utilised in Japan in the future?
Emi Yoshikawa: In the US, stablecoins have been used mostly for crypto investment and speculation, but over the past couple of years there has been a gradual increase in use cases based on actual demand and in daily settlement. Examples include e-commerce payments, international money transfers and trade finance.
Stablecoin issuers are currently earning huge investment profits due to the high US dollar interest rate, which is obviously not sustainable, so they are investing their profits in expanding the stablecoin ecosystem.
To give a concrete example, the US company Circle is actively developing its own stablecoin, USDC, for money transfers, corporate treasury and developer platforms. Stablecoins are also being used as a matter of course in the Web 3.0 industry and DAOs.
In Japan, unlike in the US, no investment profit can be expected in the first place, so operators are probably struggling with their business models. However, it is precisely because there is no investment profit that they are actively looking for use cases. It is hoped that this will lead to the creation of use cases for stablecoins originating in Japan.
It depends on how it fits in with regulations, but for my part, I think it should not only be used for use cases closed to the domestic market, but should also be used for international transactions in the future, where the advantages of blockchain can easily be demonstrated.
