{"id":12042,"date":"2025-10-21T17:52:51","date_gmt":"2025-10-21T17:52:51","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=12042"},"modified":"2025-10-21T17:53:06","modified_gmt":"2025-10-21T17:53:06","slug":"bank-of-japan-deputy-governor-backs-stablecoins-as-the-future-of-global-payments","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/10\/21\/bank-of-japan-deputy-governor-backs-stablecoins-as-the-future-of-global-payments\/","title":{"rendered":"Bank of Japan Deputy Governor Backs Stablecoins as the Future of Global Payments"},"content":{"rendered":"\n<p><strong>Ryozo Himino<\/strong>, Deputy Governor of the <strong>Bank of Japan (BOJ)<\/strong>, has emphasized the growing importance of <strong>stablecoins<\/strong> in shaping the future of global finance. Speaking on <strong>October 21<\/strong> at the <strong>2025 GZERO Summit Japan<\/strong>, Himino said that stablecoins could become a key pillar of the international payment system and may one day <strong>partially replace traditional bank deposits<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Stablecoins Could Redefine the Global Payment Landscape<\/strong><\/h3>\n\n\n\n<p>In an interview with <strong>Reuters<\/strong>, Himino highlighted that the financial world is rapidly changing, and regulators must adapt to \u201cnew realities.\u201d He noted that stablecoins, unlike traditional bank deposits, offer advantages such as <strong>instant settlement, lower transaction costs, and 24\/7 availability<\/strong> features that legacy banking systems like <strong>SWIFT<\/strong> or <strong>ACH<\/strong> still struggle to match.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStablecoins could play an important role within the global payment system,\u201d Himino said, adding that financial regulators worldwide must learn to adapt to these evolving mechanisms rather than resist them.<\/p>\n<\/blockquote>\n\n\n\n<p>Himino\u2019s comments mark a notable shift in tone from traditional central bank conservatism, signaling a <strong>growing openness toward digital financial innovation<\/strong> in Japan\u2019s top regulatory circles.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Japan\u2019s Banking Giants Lead the Stablecoin Push<\/strong><\/h3>\n\n\n\n<p>Even before the BOJ\u2019s public endorsement, Japan\u2019s major financial institutions have been <strong>actively exploring stablecoin development<\/strong>.<\/p>\n\n\n\n<p>Earlier this month, <strong>Mitsubishi UFJ Financial Group (MUFG)<\/strong>, <strong>Sumitomo Mitsui Financial Group (SMBC)<\/strong>, and <strong>Mizuho Financial Group<\/strong> three of Japan\u2019s largest banks announced plans to <strong>launch a yen-pegged stablecoin<\/strong> and build a <strong>unified payment platform<\/strong> to simplify digital settlements.<\/p>\n\n\n\n<p>The initiative will be powered by <strong>MUFG\u2019s blockchain infrastructure, Progmat<\/strong>, which will handle stablecoin issuance and governance. The goal is to enable <strong>faster, cheaper cross-border payments<\/strong> for businesses while maintaining compliance with Japan\u2019s financial laws.<\/p>\n\n\n\n<p>SMBC has also unveiled plans to issue a <strong>stablecoin supported by blockchain networks Avalanche and Fireblocks<\/strong>, with pilot testing expected in <strong>late 2025 or early 2026<\/strong>.<\/p>\n\n\n\n<p>Meanwhile, <strong>Monex Group<\/strong>, another major financial firm, has expressed interest in creating its own yen-pegged stablecoin backed by <strong>Japanese government bonds<\/strong>, though development remains in early stages.<\/p>\n\n\n\n<p>Japan\u2019s <strong>Financial Services Agency (FSA)<\/strong> has already approved the first official yen-backed stablecoin, <strong>JPYC<\/strong>, issued by fintech startup <strong>JPYC Inc.<\/strong>, making it the <strong>first regulated stablecoin tied to the Japanese yen<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Regulatory Evolution: From Resistance to Acceptance<\/strong><\/h3>\n\n\n\n<p>During his address, Himino also urged <strong>G20 nations<\/strong> to move forward with implementing the long-delayed <strong>Basel III banking standards<\/strong>, which include updated rules for <strong>crypto and banking risk management<\/strong>. He criticized governments for repeatedly delaying these reforms, saying:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cRegulators are doing a lot in these spheres, but much more needs to be done. We need to continue to modernize international prudential standards to keep up with new and emerging realities.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>Japan\u2019s regulators have been signaling a <strong>progressive stance toward digital assets<\/strong>. Earlier this year, the FSA approved a report proposing <strong>eased rules for stablecoin issuance and crypto brokerage operations<\/strong>, aiming to encourage innovation while maintaining oversight.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Bottom Line<\/strong><\/h3>\n\n\n\n<p>The Bank of Japan\u2019s evolving view on stablecoins represents a <strong>turning point in global monetary policy<\/strong>. As the country\u2019s largest banks prepare to issue yen-pegged digital currencies, Japan appears poised to <strong>bridge the gap between traditional finance and the digital economy<\/strong>.<\/p>\n\n\n\n<p>With stablecoins offering speed, transparency, and global reach, Japan\u2019s shift could inspire other nations to reimagine how central banks, commercial banks, and blockchain technology coexist in the modern financial ecosystem.<\/p>\n\n\n\n<p><strong>Disclosure:<\/strong> This article is for informational purposes only and does not constitute investment or legal advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ryozo Himino, Deputy Governor of the Bank of Japan (BOJ), has emphasized the growing importance of stablecoins in shaping the future of global finance. Speaking on October 21 at the 2025 GZERO Summit Japan, Himino said that stablecoins could become a key pillar of the international payment system and may one day partially replace traditional&#8230;<\/p>\n","protected":false},"author":3,"featured_media":12073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73,63],"tags":[65,175],"class_list":["post-12042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-crypto-news","tag-crypto","tag-stablecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank of Japan Deputy Governor Backs Stablecoins as the Future of Global Payments - Crypto News<\/title>\n<meta name=\"description\" content=\"Bank of Japan Deputy Governor Ryozo Himino says stablecoins could become a key part of the global payment system, even replacing some traditional bank deposits. 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