Startups & VC

Japan shows how non-USD stablecoins complement USDC and USDT

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SBI Group launched JPYSC, Japan's first yen-backed stablecoin, which could challenge the dominance of USD-denominated stablecoins like USDC and USDT. This development is significant as it offers a compliant on-chain settlement layer for regional financial products in their native currencies, reducing foreign exchange conversion costs and enhancing liquidity for non-USD stablecoins globally.

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