News
The Japanese company has become one of the world’s largest corporate Bitcoin holders following a series of major acquisitions this year.
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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.
- Analysis
Stablecoins in the US and Japan are seeing growing adoption, while other projects struggle to stay listed in the EU over compliance issues.
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According to RWA.XYZ, the total stablecoin market cap is currently over $227 billion, with over 155 million holders worldwide.
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The investment is part of the firm’s plans to acquire 21,000 BTC by 2026 and lead Japan’s national Bitcoin adoption efforts.
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Metaplanet issued 2 billion yen ($13.3 million) in zero-interest bonds to capitalize on Bitcoin’s recent price dip and increase its BTC holdings.
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Japan’s Financial Services Agency says it hasn't decided on if it will change financial laws after a local report claimed it would look to classify cryptocurrencies as financial products.
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LY Corporation denied reports that its Line Next blockchain venture had established a business partnership with Sony’s Ethereum layer 2.
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Circle announced that its USDC stablecoin will launch on Japan’s SBI VC Trade crypto exchange on March 26.
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Metaplanet has issued around 44 million common shares to fund its BTC purchases, a strategy that has attracted investor interest.
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Japan’s Liberal Democracy Party takes a proactive approach to crypto regulations as the country softens its stance toward digital assets.
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South Korea’s financial regulator has reportedly examined the Japanese Financial Services Agency’s legislative trend toward digital assets.
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Japanese investment firm Metaplanet has bought Bitcoin for the second time this week, which has seen its share price jump 19% so far in the Tokyo trading day.
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Following registration, SBI VC Trade expects to launch its first USDC stablecoin transactions for selected users on March 12.
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Bitcoin-stacking Metaplanet has snapped up another 156 Bitcoin as the firm’s CEO says it’s exploring “ways to make its shares more accessible.”
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This week’s business newsletter explores Goldman Sachs’ U-turn on digital assets after the investment bank purchased Bitcoin and Ether ETFs.
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