Ripple CEO Brad Garlinghouse met with a Japanese official to discuss the adoption of crypto and blockchain technology in Japan. Garlinghouse praised Japan's commitment to advancing crypto and blockchain through clear frameworks and consumer protection policies. This can be seen as a contrast to the US, where there are still unclear regulations and ongoing legal battles. In addition, three major Japanese banks are planning to create a stablecoin platform called Project Pax, with the participation of blockchain players like Progmat, Datachain, and TOKI. The overall capitalization of the stablecoin market has reached $160 billion, and Ripple is also launching its own dollar-backed stablecoin, RLUSD.



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