Dhaka, Oct. 27 -- The world's first stablecoin pegged to the yen will be launched in Japan on Monday, a small but significant move in a country where traditional payment means like cash and credit cards dominate financial infrastructure.

A Japanese startup, JPYC, said it will begin issuing stablecoins that are fully convertible to the yen and backed by domestic savings and Japanese government bonds (JGB), reports Reuters.

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The move follows US President Donald Trump's support for the sector that has sparked a revival of interest in the idea of using blockchain in the mainstream financial system.

China, too, is consider...