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A Japanese financial technologies (Fintech) firm is issuing the country’s first-ever yen-based stablecoin across several major blockchain platforms. JPYC Inc. says it’s launching JPYC, a yen-pegged stablecoin, on Ethereum (ETH), Avalanche (AVAX) and Polygon (POL). The stablecoin will aim to keep a 1:1 peg with the Japanese yen. In addition, the firm is announcing JPYC EX, the stablecoin’s official platform. According to a Reuters report, JPYC CEO Noritaka Okabe said in a press briefing, “We hope to spur innovation by giving startups access to low transaction and settlement fees. Increasing global interoperability would benefit us too, so we’re open to capital tie-ups.” According to a separate press release, the firm has plans to utilize JPYC for credit card payments and is currently bringing together plans to allow e-commerce payments with the new stablecoin. Last week, The Japan News reported that Japan’s Financial Services...

Japan’s Financial Services Agency (FSA) is planning to review regulations that would enable banks to acquire and hold cryptos such as Bitcoin for investment purposes. According to a Livedoor News report , that would mark a major policy shift given that current supervisory guidelines effectively ban banks from holding crypto due to volatility risks.  The report said that the FSA plans to discuss the change in regulation at an upcoming meeting of the FInancial Services Council, which is an advisory body to the Prime Minister. The goal behind the reform is to align crypto asset management with that of traditional financial products such as stocks and government bonds.  Banks Could Operate Licensed Crypto Exchanges As part of the reform, the FSA is also reportedly considering allowing banking groups to register as licensed crypto exchange operators. If this happens, it will allow banks to offer trading and custody services directly to their customers.  However, reg...

As part of the deal, Square Enix will develop games on Oasys’ PoS network, joining the likes of Sega, Double Jump, Bandai Namco and Ubisoft. Square Enix, the Japanese game developer behind the beloved Final Fantasy franchise, has signed on as a node validator for blockchain gaming project Oasys, with the duo also teaming up to create blockchain games. The move has predictably been met with criticism from some crypto- and NFT-hating members of the gaming community, irritated that the firm is continuing to double down its focus on blockchain tech. In a Monday announcement, Oasys revealed that Square Enix had jumped on board to be the project’s 21st node validator, taking up the final slot of initial validators. Moving forward, the duo will also team up to develop new games on Oasys’ EVM compatible proof-of-stake (PoS) blockchain, which hopes to become a hub for Triple-A quality games with play-to-earn (P2E) integrations. Square Enix joins a host of big names in gaming to partner with O...