Stablecoins are all the rage now, especially after U.S. President Donald Trump indicated support for the financial innovation earlier this year, and Japan is now getting in on the action. Two weeks ago, the first yen-based stablecoin was issued.
A report released by Citi in September said the volume of stablecoin issuance was $280 billion as of September, from about $200 billion at the beginning of the year. It was about $28 billion in 2020.
“We argued that 2025 would be blockchain’s ChatGPT moment, with stablecoins igniting the shift. Just six months later, that transformation is unfolding at remarkable pace,” the report said.
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