Key facts
- Japan's three largest banks are collaborating on a yen-backed stablecoin.
- Morpho has secured $175 million in funding from Paradigm.
Japan's three largest banks are collaborating on a stablecoin backed by the yen. This initiative aims to explore new digital financial services within the country.
In parallel, Morpho, a company in the digital asset space, has announced the successful closure of a $175 million funding round. The investment was led by Paradigm, a prominent venture capital firm known for its focus on cryptocurrency and blockchain technology.