Japan's Financial Services Agency (FSA) is set to approve the first yen-denominated stablecoin by local firm JPYC this fall.



This move signals Japan's push to integrate blockchain tech into its financial ecosystem.

A yen-backed stablecoin may enhance cross-border transactions and DeFi activity, potentially slashing remittance costs. It also aligns with Japan's earlier reforms to protect investors by ensuring stablecoin redemption at face value.

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