#japan
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JPYC debuts Japan's first regulated yen-pegged stablecoin
Tokyo-based fintech JPYC Inc. launched JPYC, a yen-pegged stablecoin, and opened issuance and redemption on its JPYC EX platform. The token is intended to maintain a 1:1 exchange rate with the yen and is backed by reserves held in bank deposits and Japanese government bonds. 
Nvidia-Fujitsu pact: AI robots and industry-specific systems
Nvidia and Fujitsu agreed to deepen collaboration on artificial intelligence, aiming to build the underlying infrastructure for “the AI industrial revolution” in Japan and, potentially, beyond. The effort will power applications ranging from smart robots to industry‑specific AI agents, executives said in Tokyo. 
Director Ryo Matsubara of Japan's GameFi project, Oasys, stood as the voice of the blockchain community in discussions with the governing Liberal Democratic Party. These crucial talks, held with the LDP's Web3 Project team, tackled the intricacies of Japan's blockchain gaming industry. 
Japan's FSA reviews rules to let banks hold Bitcoin
Japan's Financial Services Agency (FCA) is reviewing rules that would allow banks to buy and hold Bitcoin and other cryptocurrencies on their balance sheets. The regulator is also looking at whether banking groups could register as licensed crypto exchange operators to offer trading and custody services. 
SBI Shinsei teams with Partior, DeCurret on tokenized deposits
SBI Shinsei Bank partners with Singapore‑based Partior and Japan’s DeCurret DCP to explore multicurrency tokenized deposits for cross‑border payments. The trio signed a memorandum of understanding (MoU) to develop a blockchain‑based settlement framework that targets real‑time clearing across JPY and other major currencies. 
In the second quarter of 2024, crypto projects lost $572 million to fraud and hacks, more than doubling the $265 million in the same period last year. The two biggest victims were centralized exchanges: Japan’s DMM Bitcoin ($305 million) and Turkey’s BtcTurk ($55 million). 