Circle, the issuer of the world’s second-largest stablecoin, USD Coin (USDC), has stated that it plans to launch a new stablecoin in Japan.
Circle CEO Jeremy Allaire In an interview with CoinDesk on July 6, he said that Japan’s June 1 put into effect on stablecoin legislation market in the country new One stablecoin to drive what you are planning expressed.
According to Allaire’s statements, stablecoins cross-border trade, currency transactions And during global trade more widespread If used as a a big market will become.
CEO, current status of stablecoin issued in Japan to US Dollars (USD) or is it to Japanese Yen (JPY) will it be fixed yet not decided and at this point market demand stated that they are in the research phase. currency at the decision point foreign currency And trade from transactions frequently used to be a currency from the criteria Stating that he is one of the to JPY stablecoins a new opportunity He also added that he would
On the other hand, within the scope of the legislation, stablecoin issuers to strict rules specified to comply. stablecoins issued according to the legislation to JPY or to other legal payment instruments fixing and the issuer’s nominal the right to use to guarantee needs. Also, the issuer licensed bank, registered money transfer agency or trust companies like a licensed financial institution is required to be.
circle, in Asia its effectiveness while increasing rapidly last month From the Monetary Authority of Singapore (MAS) Major Paying Institution (MPI) announced that he had received the license.