Sony Bank is launching a stablecoin pegged to the Japanese Yen in collaboration with the Layer 2 Ethereum blockchain, Soneium. This move aims to lower transaction costs and boost Japan's digital asset market, while other leaders like Justin Sun explore gas-free stablecoin solutions.
AnaisThe unwinding of the Yen carry trade has been a significant event in the financial markets, leading to unexpected movements in asset prices.With the Yen carry trade now appearing unstable, it’s time for investors to consider alternative strategies. Here’s what to watch next.
WilfredBTC, market, Bitcoin fell below $50,000, 210,000 people were liquidated. Golden Finance, a number of virtual currencies experienced another cliff-like plunge during the day.
JinseFinanceMetaplanet, a Japanese listed company, announced that due to the high level of government debt, long-term negative real interest rates and the depreciation of the yen, Metaplanet will use Bitcoin as its company's strategic reserve asset in response to Japan's severe economic situation.
JinseFinanceWithin the ever-evolving cryptocurrency landscape, GYEN crypto emerges as a significant innovation reshaping decentralised finance. Developed by GYEN Labs and launched in 2018, this stablecoin operates on the Ethereum blockchain, offering users a secure alternative for financial transactions, bypassing the traditional banking system.
JoyReported by Reuters on July 20, this move aligns with the increasing global trend among central banks to delve into the development of digital versions of their currencies for retail use.
Coinlive The Mitsubishi UFJ Financial Group, Datachain, and Solamitsu are working on making the Progmat Coin, a Yen-backed stablecoin, interoperable.
BeincryptoSeveral banks will stress test a digital yen for more than two years.
OthersThe executive director of the Bank of Japan announced that the long-awaited digital yen will not be used to achieve negative interest rates.
CointelegraphThe Bank of Japan’s executive director announced that the eagerly-awaited digital yen won’t be used to attain negative interest rates.
Cointelegraph