First Yen-to-Bitcoin Stablecoin Approved for ‘Sandbox’ by Japanese Regulators

A Japanese yen-backed stablecoin has been approved for test usage and licensing by the Japanese Financial Services Agency (FSA), in Japan’s so-called “sandbox” legal regime. The license will last for one year, and has the stated objectives of: [testing] and [validating] i) the secure transfer of crypto assets on a sidechain network and ii) the possibility of building a stable and healthy OTC market by improving transparency for the price-making process……….

Source: CryptoGlobe

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