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Binance Japan Representative Says Stablecoins Are ‘the Glue’ Between the Real Economy and Blockchain
Stablecoins have been gaining popularity in recent years as a tool for reducing volatility in the cryptocurrency market. These coins are designed to be pegged to the value of a particular asset, such as the US dollar or gold, in order to offer a stable value that is independent of market fluctuations.
In a recent interview with CoinDesk Japan, Binance Japan representative Mai Fujimoto discussed how stablecoins are playing an increasingly important role in connecting the real economy with the blockchain.
Fujimoto pointed out that one of the key challenges facing the blockchain industry is how to bridge the gap between the world of cryptocurrencies and the traditional financial system. While blockchain technology offers many benefits, such as increased efficiency, transparency, and security, it can be difficult to integrate with existing financial infrastructure.
This is where stablecoins come in. By offering a stable value that is familiar to traditional investors and businesses, stablecoins provide a bridge between the world of cryptocurrencies and the real economy. They can be used for a variety of purposes, such as remittances, international trade, and investment.
Fujimoto emphasized that the use of stablecoins is particularly important in Japan, where there is a high level of interest in blockchain technology but also a conservative financial industry. Stablecoins offer a way to bring together these two worlds and facilitate the adoption of blockchain technology in Japan.
Binance, one of the world’s largest cryptocurrency exchanges, has been actively promoting the use of stablecoins through its Binance USD (BUSD) and Binance JPY (BJPY) tokens. These stablecoins are backed by the US dollar and the Japanese yen, respectively, and provide a convenient and reliable way to trade cryptocurrencies on the Binance platform.
In addition to traditional stablecoins, Fujimoto also discussed the emergence of new types of stablecoins, such as algorithmic stablecoins and commodity-backed stablecoins. These innovative coins offer new possibilities for connecting the real economy with the blockchain, and could play an important role in the future of the cryptocurrency market.
Overall, Fujimoto’s comments highlight the growing importance of stablecoins as a tool for building bridges between the blockchain and the real economy. As more businesses and investors become interested in blockchain technology, stablecoins are likely to become an increasingly important part of the cryptocurrency ecosystem.
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