Stablecoins Poised to Transform Global Payment Systems, Says Bank of Japan Official

According to BlockBeats, Bank of Japan Deputy Governor Ryozo Himino recently stated that stablecoins could emerge as key players in the global payment system, potentially partially replacing bank deposits. He noted that non-bank financial institutions hold half of the assets in the global financial system. While regulators have made significant progress in these areas, much work remains to be done.