Japan quietly becomes APAC’s top local stablecoin market
Japan has overtaken Singapore as the largest hub for local-currency stablecoins in the Asia-Pacific region (APAC), driven by the growth of its yen-denominated stablecoin, JPYC. By early 2026, APAC's local stablecoin supply rebounded to nearly $60 million from a low of around $40 million, with Japan leading this recovery. JPYC's supply reached approximately $26.4 million, accounting for nearly half of the regional market. In contrast, Singapore's XSGD stabilized at around $18 million, well below its previous peak, while other local stablecoins like Indonesia's IDRT saw declines and played a limited role. This shift highlights Japan's growing influence in regional stablecoin adoption, though dollar-backed stablecoins continue to dominate globally.
ambcrypto02/17 16:35
