Japan and Thailand Lead Crypto Adoption: Best Wallet Token Soars
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Japan’s Financial Services Agency (FSA) is expected to approve the release of Japan’s first yen-back stablecoin, $JPYC. The stablecoin will be backed by government bonds and deposits and will be released this coming fall. The official announcement states: Worldwide, the market size has expanded to over 250 billion dollars (approximately 37 trillion yen), mainly denominated in dollars. The aim is to popularize it in Japan as a means of international remittances. —Nihon Keizai Shimbun, Press release The issuer is JPYC Inc., which announced that it plans to produce ¥1T $JPYC over the next three years. Thailand Plans Crypto Payment Sandbox for Tourists, Driving the Crypto Market Into Frenzy Meanwhile, Thailand’s TouristDigiPay initiative aims to revitalize tourism by letting foreigners convert their crypto into Thai Baht. The official announcement will take place today, during a press conference led by Deputy Prime Minister and Finance Minister, Pichai Chunhavajira. The Thai government has considered this method for a long time in the context of a declining tourist sector. Once implemented, the scheme will function under strict regulatory oversight to prevent the direct use of cryptos as payment methods and ensure alignment with the Anti-Money Laundering and Counter-Terrorist Finance Ordinance’s (AMLO) criteria. In this sense, the central bank is currently working to create the Tourist Wallet, designed specifically for foreigners, which will initially function strictly as a currency conversion hub. With time, the plan is to link it directly to the users’ credit and debit cards. Japan and Thailand’s involvement in the crypto sector is likely to cause visible ripples in the industry, given the scope of the projects. In particular, Thailand’s move to use crypto to boost tourism could fuel projects like Best Wallet, which is a great fit for people wanting to use crypto on the move. Best Wallet Welcomes Crypto Beginners…
Filed under: News - @ August 18, 2025 11:30 am