Japan & China Race Toward National Stablecoins

Asia is heating up in the stablecoin race. Japan and China are taking big steps. Japanese startup JPYC is preparing to launch the country’s first yen-pegged stablecoin. This move aims to provide a faster and local alternative to global stablecoins like $USDT or $USDC

Founded in 2019, JPYC already issues prepaid yen tokens. Now, with Japan’s updated Payment Services Act, it plans to step into the stablecoin world. This could make transactions cheaper, faster, and easier across borders.

Meanwhile, China is also moving forward. Authorities are reportedly considering a yuan-backed stablecoin. China already has its digital yuan (e-CNY), but a private sector stablecoin could show more acceptance of blockchain-based tools. Analysts believe this could boost China’s financial control and strengthen the yuan in international trade.

As both countries push ahead, Asia might see new competition and collaboration in digital finance. Traders and crypto enthusiasts should watch closely, as these moves could reshape the stablecoin market in the region.

Insight: Japan and China are not just adopting digital currency—they are shaping the future of finance in Asia.