🇯🇵 Yen-Pegged Stablecoins Eye Japan's $9 Trillion Bond Market!
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Japan's first yen-pegged stablecoin, JPYC, has launched, aiming to become a major holder of government bonds as the Bank of Japan tapers its purchases. With a target of $66 billion in circulation within three years, JPYC plans to invest 80% of its proceeds in Japanese Government Bonds (JGBs). This move could significantly alter the dynamics of Japan's sovereign debt landscape and the BOJ's influence.
The sentiment is positive and forward-looking, highlighting innovation in stablecoin adoption and its potential to impact traditional finance.
Could stablecoins soon challenge central bank demand in major economies? #Stablecoins #JPYC
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