Sony Bank is launching a stablecoin pegged to the Japanese Yen in collaboration with the Layer 2 Ethereum blockchain, Soneium. This move aims to lower transaction costs and boost Japan's digital asset market, while other leaders like Justin Sun explore gas-free stablecoin solutions.
AnaisThe unwinding of the Yen carry trade has been a significant event in the financial markets, leading to unexpected movements in asset prices.With the Yen carry trade now appearing unstable, it’s time for investors to consider alternative strategies. Here’s what to watch next.
WilfredEthereum's price surges to $3,620 following substantial whale buying activity, coinciding with Bitcoin's rise above $72,000. Whales acquire 10,322 ETH, driving positive momentum. Ethereum Foundation sells 100 ETH. Bullish sentiment prevails.
Huang BoCelsius Wallet's $36 million Ethereum deposit into exchanges amid restructuring reflects ongoing efforts to address financial woes. Despite founder legal issues, a court-approved plan introduces "NewCo" for fund generation. Unstaking activities aim to ensure timely distributions to creditors, emphasizing commitment amid intricate challenges.
Cheng YuanReported by Reuters on July 20, this move aligns with the increasing global trend among central banks to delve into the development of digital versions of their currencies for retail use.
Coinlive The Mitsubishi UFJ Financial Group, Datachain, and Solamitsu are working on making the Progmat Coin, a Yen-backed stablecoin, interoperable.
BeincryptoSeveral banks will stress test a digital yen for more than two years.
OthersTelsa CEO noted that the sale “should not be taken as a verdict on Bitcoin” and is “certainly open to increasing our Bitcoin holdings in the future.”
CointelegraphInflows into bitcoin and ethereum investment products continue to rise as institutional investors re-accumulate.
CointelegraphThe executive director of the Bank of Japan announced that the long-awaited digital yen will not be used to achieve negative interest rates.
Cointelegraph