Japanese bank launches first deposit-backed stablecoin

Japanese bank launches first deposit-backed stablecoin


Japan's Hokkoku Regional Bank has introduced a stablecoin backed by bank deposits. This development forced Japanese crypto enthusiasts to evaluate its advantages and disadvantages. In addition, the usefulness of the stablecoin is being questioned. The initiative follows the success of the Tochituka app, launched last year in partnership with permission from the city of Suzu.