Deputy Governor of the Bank of Japan: Stablecoins may become key players in the payment system and partially replace bank deposits

According to Odaily Planet Daily, Bank of Japan Deputy Governor Yoshizo Himino recently stated that stablecoins could become key players in the global payment system, partially replacing the role of bank deposits. Half of the assets in the global financial system are held by non-bank financial institutions. Regulators have already done much work in these areas, but much more remains to be done. (Jinshi)