Tokenized Deposits & Stablecoins: Japan's FSA Backs Interbank Settlement Experiment in On-Chain Finance Push
Japan's Financial Services Agency greenlit a proof-of-concept for interbank settlement using tokenized deposits and stablecoins, led by DeCurret DCP, GMO Aozora Net Bank, and ABeam Consulting. We analyze its significance alongside the US GENIUS Act, EU MiCA, and Japan's CBDC progress.