{"id":74937,"date":"2023-03-02T20:30:31","date_gmt":"2023-03-02T18:30:31","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74937"},"modified":"2025-09-10T02:32:58","modified_gmt":"2025-09-09T23:32:58","slug":"three-japanese-banks-to-test-stablecoins-on-the-japan-open-chain","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/three-japanese-banks-to-test-stablecoins-on-the-japan-open-chain\/","title":{"rendered":"Three Japanese banks to test stablecoins on the Japan Open Chain"},"content":{"rendered":"<p>Tokyo Kiraboshi Financial Group, Minna no Bank and The Shikoku Bank will test stablecoins built on the Japan Open Chain blockchain, <a href=\"https:\/\/www.coindesk.com\/business\/2023\/03\/02\/three-japanese-banks-start-stablecoin-experiment\/\">CoinDesk reports<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>Financial institutions are deploying an infrastructure solution from GU Technologies for the experiment.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe will conduct a study to confirm that each bank is capable of issuing its own &#8216;stablecoin&#8217;, which can be used in Ethereum wallets such as <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-metamask\">MetaMask<\/a>, in compliance with the Payment Services Act,\u201d the press release says.<\/p>\n<\/blockquote>\n<p>Following <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">Terra<\/a>&#8216;s collapse in 2022, Japanese authorities <a href=\"https:\/\/u1f987.com\/en\/news\/japanese-financial-regulator-recommends-restricting-algorithmic-stablecoins\">adopted a series of restrictive measures<\/a> on stablecoins aimed at protecting investors. However, the government plans to permit listings of \u201cstablecoins\u201d issued outside the country on local exchanges.<\/p>\n<p>The new rules, to be introduced in June, will allow local platforms to apply for a special license to trade stablecoins.<\/p>\n<p>In January, Japan&#8217;s Financial Services Agency <a href=\"https:\/\/u1f987.com\/en\/news\/japan-urges-crypto-industry-to-be-regulated-on-a-par-with-banks\">reached out to<\/a> global regulators with a proposal to treat the cryptocurrency industry as stringently as banks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tokyo Kiraboshi Financial Group, Minna no Bank and The Shikoku Bank will test stablecoins built on the Japan Open Chain blockchain.<\/p>\n","protected":false},"author":1,"featured_media":74938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,135,807],"class_list":["post-74937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-japan","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74937"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74937\/revisions"}],"predecessor-version":[{"id":74939,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74937\/revisions\/74939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74938"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}