Reports emerged that three megabanks and others were validating a joint issuance model for yen-denominated stablecoins and considering a demonstration to verify interoperability between JPYSC and OUSD. In addition, JPY DeFi launched on the Ethereum mainnet, while new features including an integrated app for spot and margin trading and a self-custody wallet were announced.
Three megabanks and others indicated plans to validate a joint issuance model for yen-denominated stablecoins. Issues including the division of responsibility among the banks and AML/CFT measures were identified, while a design concept aimed at large-scale distribution was presented.
Moves to consider an experiment demonstrating interoperability between the yen-denominated stablecoin JPYSC and the US dollar-denominated OUSD were reported, prompting discussion of the potential for improved access to overseas assets.
JPY DeFi launched on the Ethereum mainnet, introducing a mechanism that enables users to borrow JPYdf against collateral including wstETH and USDC.
Rakuten Wallet announced a new app integrating spot and margin trading, with reports of the introduction of passkey authentication and expanded functionality including AI.
Slash App launched, integrating a self-custody wallet with card payment functionality and supporting identity verification using a driver's license.