Japan Post Bank To Issue Digital Yen In 2026—$1.3 Trillion Deposits Go Blockchain
Japan Post Bank is transferring towards a blockchain-based yen forex for depositors, with a launch deliberate by the tip of fiscal yr 2026.
Japan Post Bank Taps Into Blockchain For Digital Yen
As reported by Reuters, Japan Post Bank is planning to launch a digital yen within the coming yr. Japan Post Bank is a Tokyo-headquartered financial institution that initially began as a postal financial savings system again in 1875 and at this time manages round 190 trillion (almost $1.3 trillion in US {dollars}) in deposits.
Historically absolutely owned by the Japanese authorities, the establishment opened as much as personal shareholders in 2007, however nonetheless counts the Japanese state amongst its backers.
Now, it appears the financial institution needs to convey its huge depositor base into the blockchain period. The new forex, referred to as “DCJPY,” will likely be developed by DeCurret DCP, a Japanese digital currencies platform, and will likely be backed 1:1 by fiat yen.
The two firms plan to concern the digital yen by the tip of fiscal yr 2026. After its launch, the financial institution’s customers will have the ability to convert their funds into DCJPY and take part in blockchain-based transactions.
While DCJPY will use blockchain know-how, will probably be completely different from a stablecoin. Stablecoins are cryptocurrencies pegged to a fiat forex which can be sometimes accessible for buying and selling on public exchanges and different platforms. Meanwhile, DCJPY will likely be a deposit-based token accessible throughout the monetary system of Japan Post Bank.
The financial institution isn’t the primary monetary establishment within the nation to launch a blockchain product like this. Last yr, GMO Aozora Net Bank additionally began an identical digital yen providing.
Speaking of stablecoins, these cryptocurrencies have been witnessing a legislative push in Asia these days, with Hong Kong releasing its stablecoin invoice at first of August and South Korea anticipated to launch its framework in October.
Japan launched its stablecoin laws again in 2022. So far, no yen-backed stablecoins have been accredited, however in line with a report, one may acquire the inexperienced gentle from regulators as quickly as October.
The fiat-tied digital property have just lately been observing some notable development and exploring new all-time highs (ATHs), in line with knowledge from MacroMicro.
From the chart, it’s seen that the stablecoin market cap noticed a hunch in 2022-23, however 2024 introduced a reversal as development returned within the area. The finish of the yr then witnessed acceleration within the metric, which has continued into 2025.
Today, the mixed stablecoin market cap sits at about $282.6 billion, a contemporary document.
Bitcoin Price
At the time of writing, Bitcoin is buying and selling round $109,500, unchanged from one week in the past.
