Japan’s first yen stablecoin issuer, JPYC, said growing demand could make stablecoin reserves a new force in the country’s bond market.
Japan’s first domestic stablecoin issuer said digital asset companies may soon become significant players in the country’s sovereign debt market, potentially reshaping monetary policy.
JPYC, the Tokyo-based company behind Japan’s first yen-pegged stablecoin, said issuers may evolve into major buyers of Japanese government bonds (JGBs) as their reserves increase.
In comments reported by Reuters, JPYC founder and CEO Noritaka Okabe said stablecoin reserves could fill the gap left by the Bank of Japan (BOJ) as it slows its bond purchases.
