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(TradingView)
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Yen-Backed Stablecoin Can’t Come at a Better Time as BOJ Seen Raising Rates

by admin August 31, 2025



One of the biggest stories emerging from the Far East this month is the imminent launch of a blockchain-based version of the Japanese yen, one of the world’s major fiat currencies.

The timing for this development couldn’t be better, as the Bank of Japan (BOJ) is widely expected to raise interest rates soon, a move likely to increase the appeal of both the yen and yen-backed assets.

Earlier this month, CoinDesk reported that Japan’s Financial Services Agency (FSA) is likely to approve the country’s first yen-denominated stablecoin as early as this fall. According to the report, Tokyo-based fintech firm JPYC plans to register as a money transfer business within the month and will spearhead the rollout of a JPY-pegged stablecoin, which will trade at a 1:1 ratio with the Japanese yen.

Stablecoins are cryptocurrencies that are pegged to an external reference, such as the U.S. dollar, euro, or yen. These tokens play a crucial role by facilitating capital transfers used for trading, investing, remittances, or international payments, all while bypassing the volatility typically associated with other cryptocurrencies.

JPYC is not alone in pursuing a yen-pegged stablecoin. Last week, Tokyo-based financial services company Monex Group announced that it is considering launching its own JPY stablecoin aimed at international remittances and corporate settlements. Oki Matsumoto, Chairman of Monex Group, told local media, “Issuing stablecoins requires significant infrastructure and capital, but if we don’t handle them, we’ll be left behind.”

BOJ rate hike

Both leading bankers and traders expect the BOJ to hike rates in the coming months, while the U.S. Federal Reserve is seen doing the opposite.

Hiroshi Nakazawa, head of Hokuhoku Financial Group, one of Japan’s largest regional banks by assets, said over the weekend that the BOJ could raise interest rates in either October or December, assuming “things go smoothly.”

Shares in Hokuhoku Financial Group have been the best-performing banking stocks this year, with prices rallying 90% to top the Topix banks index, which includes 70 lenders.

Nakazawa’s outlook aligns with the broader market consensus on upcoming rate hikes. According to Bloomberg Economics, the recently released Tokyo inflation report likely reinforced the BOJ’s view that consumer price momentum remains strong, on track to reach its 2% target. The team forecasts a 25 basis point rate hike at the BOJ’s October meeting.

The anticipated rate hike could prompt investors to move funds into JPY-backed stablecoins. Recall that the 2022 Fed rate hike cycle was seen as boosting demand for USD-pegged stablecoins, although the appeal of stablecoins was later temporarily dented by the Terra crash in May 2022.

The BOJ raised rates twice in recent years, from 0.1% to 0.25% in July last year and then another 25 basis point hike in January. Since then, the central bank has kept rates steady.

Japanese yields rise, BTC/JPY drops

Yields on longer-duration Japanese government bonds (JGBs), the third largest government debt market after the U.S. and China, have climbed to multi-decade highs, reflecting fiscal concerns and the strong expectation of an imminent BOJ rate hike.

For example, the 30-year JGB yield recently surged to a record high of over 3.2%, while the 10-year yield reached 1.64%, levels not seen since 2008, according to TradingView data.

Adding to the yen’s appeal is the narrowing gap between U.S. and Japanese 10-year yields, which has tightened to 2.62%, the lowest since August 2022. Because the USD/JPY exchange rate closely tracks this yield differential, a regression analysis by MacroMicro suggests the pair should trade around 144.43, compared to Friday’s level of approximately 147.00.

In other words, the regression analysis points to appreciation in the yen.

The strengthening yen and expected rate hikes also imply downside potential for BTC/JPY. The cryptocurrency pair listed on bitFlyer has already dropped 8% this month, hitting its lowest level since July 9. This recent sell-off has triggered a classic double top bearish reversal pattern on the daily chart.

Technical analysis using the measured move method suggests the double top breakdown could lead prices to fall to about 14,922,907 JPY. This target is calculated by subtracting the height between the two peaks and the interim trough from the trough low, indicating further downside risk for bitcoin priced in yen.



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August 31, 2025 0 comments
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stablecoin
NFT Gaming

Japan Eyes Approval Of Yen-Backed Token

by admin August 19, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Japan is inching towards the approval of its first yen-backed stablecoin, with regulators likely to approve it as soon as October.

Nikkei reports that the token, named JPYC, will be issued by Tokyo fintech company JPYC and will be backed by the Japanese yen with reserves like bank deposits and government debt.

Stablecoin Target Remittances And Corporate Payments

The forthcoming launch follows a 2023 revision of Japan’s Financial Services Agency’s legal requirements classifying stablecoins as “currency-denominated assets.”

With this regulation, only licensed money transfer companies, trust companies, and banks may issue them. JPYC is in the process of registering as a money transfer company within the month, which will enable selling tokens shortly afterward.

The company’s goal is ambitious. Within the next three years, it plans to sell 1 trillion yen’s worth of JPYC, roughly $6.8 billion at the current rate of 147 yen per dollar.

🇯🇵 Japan to greenlight first yen-based stablecoin.

The Financial Services Agency will approve the issuance of Japan’s first yen-denominated stablecoin as early as autumn, with the aim of using it for international remittances and more.

— World of Statistics (@stats_feed) August 18, 2025

The tokens might be utilized for cross-border remittances, corporate payments abroad, or trading in decentralized finance markets.

News also indicates hedge funds dealing in cryptocurrencies and family offices handling money of rich investors are already evincing interest.

Carry Trades Attract Institutional Interest

Market observers think that JPYC can also find use in carry trades, which exploit the disparity in interest rates among currencies.

That prospect has attracted institutional interest at a point when stablecoins are becoming popular worldwide.

BTCUSD trading at $115,718 on the 24-hour chart: TradingView

Dollar-backed tokens continue to hold sway, with the overall value of all stablecoins recently hitting more than $250 billion.

Tether’s USDT and Circle’s USDC continue to be used the most for trading and settlements.

Yet, Japan’s attempt to launch a regulated yen-backed token may signal the way toward increased regional adoption in Asia, where dollar-denominated stablecoin alternatives are being monitored closely.

Regulated Path Offers Predictability

JPYC’s approval would highlight Japan’s stricter but clearer approach compared to many other countries.

Analysts say the framework gives companies more certainty as they test blockchain-based settlement systems without fear of regulatory ambiguity.

According to estimates, the global stablecoin market could swell to nearly $4 trillion by 2030, more than 10 times its current size.

And if yen-pegged instruments, such as JPYC, gain traction, they could capture some of that growth and resonate with Asian investors looking for alternatives to dollars.

The Japanese move also comes as governments across the globe heighten their monitoring of stablecoins due to fears about financial stability.

Featured image from CNN, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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August 19, 2025 0 comments
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Japan Prepares To Approve First Yen-Backed Stablecoins This Fall
Crypto Trends

Japan Prepares to Approve First Yen-Backed Stablecoins This Fall

by admin August 18, 2025



Japan’s financial regulator is preparing to give the green light to the country’s first yen-backed stablecoin, a step that could open the door to wider use of digital money while also affecting demand for government debt.

The Financial Services Agency (FSA) is expected to approve the rollout of stablecoins pegged to the yen as early as this fall, according to a report by the Nihon Keizai Shimbun. The first issuer will be JPYC Inc., a Tokyo-based fintech that plans to register as a money transfer business within weeks.

JPYC’s token is designed to hold a fixed value of one yen. It will be backed by readily available assets such as money kept in banks and Japanese government bonds. Once applications are processed, both individuals and companies will be able to purchase the tokens via bank transfer and store them in digital wallets.

The move brings Japan in line with a global stablecoin market that has grown rapidly in recent years. Dollar-backed coins such as Tether’s USDT and Circle’s USDC dominate the $286 billion market, and they are already used in Japan. A yen-based stablecoin would be the country’s first homegrown alternative.

Industry figures say the implications could stretch beyond payments. In a post on social media platform X, Noriyuki Okabe, a representative of JPYC’s issuing company, argued that widespread use of yen-pegged stablecoins could increase demand for Japanese government bonds. 

ステーブルコインは巨大な国債消化装置であり、
ステーブルコイン発行体のTetherやCircleは米国債の主要な買い手になっています。

日本でもこれからJPYCが日本国債を買いまくることになります。

ステーブルコイン発行が伸びない国の国債金利はこれからどんどん上がっていくでしょう。…

— 岡部典孝 JPYC代表取締役 (@noritaka_okabe) August 14, 2025

He pointed to the U.S., where leading stablecoin issuers have become major buyers of Treasurys to back their tokens. If JPYC follows the same path, it could emerge as a new source of demand for JGBs.

Okabe also suggested that countries slow to adopt stablecoins risk higher borrowing costs in the long term. Without this new channel of demand, he said, governments may have to rely more heavily on traditional investors to absorb public debt.

For Japan, the launch of JPYC would mark the first time the yen itself has been mirrored in tokenized form at scale. It would also deepen the intersection of digital assets and monetary policy at a moment when global finance is increasingly shaped by stablecoins.

Also Read: Citigroup Eyes Stablecoin, Crypto ETF Custody & Payment Push





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August 18, 2025 0 comments
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