Ripple CEO Brad Garlinghouse visited Japan to discuss issues related to the adoption of cryptocurrencies and blockchain technologies.
Crypto Tech Directions in Japan
This week, Brad Garlinghouse visited Japan and during the XRP Community Day event, he met Taira Masaaki, a member of the Japanese House of Representatives who oversees various committees related to Web3 and AI innovations. Garlinghouse shared his impressions from the meeting, noting that Japanese leaders are committed to advancing crypto and blockchain technologies through clear frameworks and constructive policy that protects consumers and fosters innovation.
Stablecoins and Japanese Banks
Japanese financial giants continue their efforts to adopt cryptocurrency. According to Chinese cryptocurrency blogger and journalist Colin Wu, the three largest banks in Japan plan to create a stablecoin platform to enable local businesses to make fast international settlements. These banks are Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank.
Project Pax and Its Participants
The program, named Project Pax, will be run by blockchain players like Progmat, Datachain, and TOKI. Wu added that more banks from various parts of the world are expected to join Project Pax.
Ripple CEO Brad Garlinghouse expressed confidence that Japan is moving in the right direction by creating clear frameworks and constructive policy for promoting cryptocurrencies and blockchain technologies.
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