## Yen Stablecoin Issuers Poised to Impact JGB Market Yen stablecoin issuers are predicted to become significant buyers of Japanese Government Bonds (JGBs). As the Bank of Japan (BOJ) potentially reduces its bond purchases, these issuers, required to hold reserves backing their stablecoins, are expected to step in to fill the demand gap. Noritaka Okabe, founder of JPYC, a Yen stablecoin issuer, highlights the potential shift. With the BOJ currently holding a substantial portion of JGBs, a reduction in their activity necessitates new buyers. Stablecoin issuers, due to reserve requirements, are strategically positioned to become key participants in the JGB market, offering stability and liquidity. This development could reshape the Japanese financial landscape, increasing the role of digital assets in traditional finance. ```