@catmangox: Judging by how JPYC is doing, it's likely that USDC will monopolize Japan's mainstream stablecoins by then, and that would be very troublesome. It would be equivalent to Japan's finance being controlled by Americans.
Summary
The author worries that Japan's native stablecoin JPYC is not developing well, which may allow USDC to monopolize Japan's stablecoin market, thereby letting Americans control Japan's finance.
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Cached at: 06/24/26, 12:02 PM
Looking at the current state of JPYC, it’s highly likely that USDC will monopolize Japan’s mainstream stablecoin market. When that day comes, it will be very troublesome — essentially Japan’s financial system would be under American control.
Noritaka Okabe, Representative Director of JPYC (@noritaka_okabe): I believe it is acceptable to issue warnings via quote posts. The Financial Services Agency stated in the Funds Settlement WG report that exchange operators should issue warnings, and as a money transfer service provider, we consider this to be the same.
We will continue to actively issue such warnings going forward.
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