Japan was the first country to establish a regulatory framework for Stablecoins. However, until now, he has taken a seemingly passive role in technology, without representation based on blockchain of his national currency, the Yen. That can change soon.
After years of quiet infrastructure development, Japan is preparing to launch its first stablecoin with fully guaranteed yen at the end of this year.
Takashi Tezuka, country manager of Japan at the web3 infrastructure supplier, Startale Group, told Cointelegraph that the gap between Japan and the United States in Stablecoins reflects a deeper philosophical difference.
“Genius law was received with a mixture of relief and curiosity,” Tezuka said, referring to the last draft of the US stablecoin law. UU.
“Relief”, because the United States has finally reached what Japan did two years earlier, putting a comprehensive legal framework in Stablecoins, “he added.
This week’s Crypto Biz explores the stablcoin ambitions of Japan, the growing role of institutions in digital assets and growing concerns about leverage in cryptographic treasures.
Japan Monex Group’s eyes support Stablecoin
Monex Group, a Tokyo financial services company, is weighing the launch of a stablcoin linked to Japanese Yen, a movement that, he says, could improve international remittances and corporate agreements called Yen.
“Stablecoins issuance requires significant infrastructure and capital, but if we do not handle them, we will leave us behind,” said Monex Group President Oki Matsumoto, to local media.
While the company has not completely committed to an issue, Matsumoto said Monex will “respond correctly” to the opportunity of the emerging market.
Monex would not be the first to explore a stablcoin backed by yen. According to the reports, Fintech JPYC Local is preparing to display the first Yen Stablecoin of the country this fall, backed one by one for bank deposits and government bonds.
JPMorgan is committed to $ 500 million for the cryptographic coverage fund
The heavyweight of Wall Street, JPMorgan, plans to compromise up to $ 500 million for Numerai, a friendly coverage fund with cryptographic known to use artificial intelligence and crowdsourcing models to generate yields.
Numerai said the capital will be deployed during the next year and will almost double its assets under administration, currently around $ 450 million.
The fund delivered more than 25% net yields last year by combining crowdsourcing, AI, cryptography and other strategies promoted by amount.
After the announcement, the native cryptocurrency of Numerai, Numeraire (NMR), increased more than 120% and negotiated above $ 120.
For JPMorgan, the agreement marks another complete circle moment for a bank that once criticized digital assets, but has constantly expanded to the sector, including an association with Coinbase to facilitate cryptography purchases and continuous considerations around loans supported by cryptography.
ETH TREASURY COMPANY EYES BUYS BUYS AFTER THE MASIVE PURCHASE
Ethzilla, an Ether Treasury (ETH) company that recently turned from biotechnology, has approved a shares of shares of $ 250 million less than a month after making an important acquisition of Ether.
The Board of Directors authorized the repurchase of up to $ 250 million in common shares in circulation. Ethzilla currently has 165.4 million actions in circulation.
The company recently took advantage of its balance to acquire more than 102,000 ETH at an average price of just under $ 3,950. Although it spent approximately $ 403 million on purchases, holdings are now valued at around $ 489 million.
“Treasury ETH companies have risks, such as Oversteligar,” Komodo Platform, Kadan Stadelmann, told Cointelegraph.
In a bearish market, an overheated position could trigger forced settlements, which could feed great volatility for ETH, Stadelmann warned.
Kindlymd plans purchase of Bitcoin of $ 5 billion
The Kindlymd health company plans to significantly expand its Bitcoin (BTC) acquisition strategy, announcing a massive capital offer in the market of $ 5 billion to finance general corporate purchases, including large -scale Bitcoin purchases.
The company launched its Bitcoin strategy earlier this month with a purchase of $ 679 million, after its merger with Nakamoto, a digital asset firm founded by David Bailey, former cryptography advisor of the president of the United States, Donald Trump. Kindlymd has established an ambitious goal to acquire 1 million BTC.
His August purchase has already promoted Kindlymd at 16th place in the Bitcoin Treasury corporate ranking, before Semler Scientific, ProCap, Gamestop and Cango, according to the industry data.
The last capital program of the company will be executed through multiple agents, including singer and TD Securities, with shares sold at market prices prevailing in exchanges.
While Kindlymd actions fell into the news, the shares remain more than 300% since May, when the company first presented its Bitcoin strategy.
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