Japan's Minna Bank Explores Stablecoins on Solana in Fireblocks-Led Study

Key Points

1. Minna Bank, Japan’s first digital-only bank, is collaborating with Fireblocks, Solana Japan, and TIS to study blockchain applications like cross-border payments and Web3 wallets.

2. A survey by CEX.IO found that 69% of respondents increasingly use stablecoins for financial activities, with their market value exceeding $250 billion.

3. Japan’s approach to blockchain and stablecoins differs from the U.S., with a focus on local needs and policies, as noted by Fireblocks’ Stephen Richardson.

4. Stablecoins are seen as a tool for de-dollarization, though some industry leaders, like Airwallex CEO Jack Zhang, remain skeptical of their long-term impact.

5. Fireblocks’ Richardson compares the programmable money revolution to the creation of HTTP, emphasizing its potential to become invisible yet foundational in financial systems.