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Yen stablecoin issuer predicts growing presence in Japan's bond market
Stablecoin issuers could become major buyers of Japanese government bonds in several years and influence the central bank's control over monetary policy, the head of Japan's first domestic issuer of yen-pegged stablecoins told Reuters. Japanese startup JPYC began issuing stablecoins pegged to the yen - also called JPYC - on October 27 in a significant move in a country where many consumers still prefer traditional payment methods such as cash and credit cards. The company has rolled out about 143 million yen worth of JPYC so far with the number of account holders hitting 4,707 as of November 12. It has said it aims ... (full story)
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