Tokyo Initiates Support for Businesses with Yen-Denominated Stablecoins, Aiming to Boost Competitiveness as a Global Financial Hub

On the 17th, Tokyo announced the start of support for businesses working on the social implementation of yen-denominated stablecoins. Stablecoins, known for their price stability and the ability to facilitate quick, low-cost transactions, are expected to be widely used in various scenarios including international remittances. They are anticipated to become a major payment method in the international community moving forward. Governor Yuriko Koike stated that as an international financial city...