Opinion
Dollar stablecoins control crypto’s financial rails, but regulated euro, yen and yuan alternatives are emerging to challenge the USD’s onchain monopoly.
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Japan News
Located in East Asia, Japan is a top 20 country in the world in terms of population. Japan has the third-largest economy by nominal gross domestic product and the fourth-largest economy by purchasing power parity. Tokyo is the country’s capital. Bitcoin in Japan has a notable following, as does cryptocurrency and blockchain as a whole.
The country’s regulators have deemed Bitcoin an approved money type. Japan hosts a number of crypto exchanges, and the country has regulatory requirements around the industry, creating a scene more favorable for compliant crypto-asset entities. Bitcoin’s anonymous creator, Satoshi Nakamoto, is thought to be from Japan, although little is confirmed about Nakamoto’s identity.
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From harsh 55% taxes to a flat 20%, Japan’s crypto overhaul promises relief for investors in a bid to boost Web3 innovation.
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Standard Chartered-backed Zodia Custody has exited its Japan venture with SBI Holdings after two years, with both firms calling the move a strategic realignment.
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Metaplanet plans to raise $1.44 billion through a discounted 385 million share sale to boost Bitcoin holdings, but dilution risk weighs on investors as stock slides.
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Japan’s Financial Services Agency proposed moving crypto oversight from the Payment Services Act to the stricter Financial Instruments and Exchange Act.
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Metaplanet charted a path to expand shares and issue dual-class stock, reinforcing its long-term Bitcoin accumulation plan.
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Metaplanet, Japan’s largest Bitcoin treasury firm, bought 1,009 BTC to reach 20,000 BTC in holdings while issuing millions of new shares.
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Metaplanet’s stock has plunged 54% since mid-June, forcing the Tokyo-listed firm to seek alternative fundraising as its share-based “flywheel” falters.
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Japan readies its first yen-backed stablecoin, signaling a shift from regulatory caution to active participation in digital finance.
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Metaplanet will issue up to 555 million new shares, with most of the $880 million raised directed toward Bitcoin purchases and income strategies.
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“Japan prizes systemic stability above innovation speed, while the US is signaling a bigger market-opening play,” said Startale Group’s Takashi Tezuka.
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Tokyo-based Monex Group is weighing the launch of a yen-pegged stablecoin, with its chairman, Oki Matsumoto, citing the need to keep pace in digital finance.
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Animoca Brands has partnered with Antler’s Ibex Japan to launch a Web3 fund aimed at bringing Japan’s anime and manga IP onchain.
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Japan’s Finance Minister Katsunobu Kato said crypto deserves a spot in portfolios, while pledging to build a sound trading environment for the sector.
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SBI Group and Chainlink will offer a host of blockchain-based tools aimed at financial institutions, starting in Japan and then the Asia-Pacific under a new partnership.
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