Ethereum News Daily TheBitTimes.com

Three Japanese banks are coming together to experiment with stablecoin payments. GU Technologies, a Web3 infrastructure company, has developed a system for the same on the ‘Japan Open Chain.’ The chain is fully compatible with Ethereum and falls in line with Japanese law. Tokyo Kiraboshi Financial Group, Minna no Bank, and Shikoku Bank are the institutions involved. According to the translated version of the press release, the entities said, “We will conduct an experiment to confirm that each bank can issue its own stablecoin that can be used in Ethereum wallets such as MataMask while complying with the new payment method.” Ultimately, they intend to issue a legally backed stablecoin, while coordinating with the test and production environments of banking systems. ／ 新着🌟プレスリリース 「国内銀行とステーブルコイン発行に向けた実証実験開始のお知らせ」 ＼ 日本法に準拠する各行独自のステーブルコインを @JapanOpenChain 上で発行へ！#東京きらぼしフィナンシャルグループ#みんなの銀行#四国銀行#ステーブルコインhttps://t.co/bDcQAyM06t pic.twitter.com/9w2lkSZwf3 — G.U.net (@G_U_net) March 1

BTC price sees short-term relief as the DXY falls, but Bitcoin analysts warn that Japan's move means carnage for global markets. Bitcoin (BTC) recovered from an overnight dip on Dec. 20 as Japan’s central bank sparked chaos on global financial markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst likens BoJ policy to FTX Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to near $17,000 after falling over 3% through the course of Dec. 19. The largest cryptocurrency benefitted from flash U.S. dollar weakness, this coming on the back of a surprise policy tweak from the Bank of Japan (BoJ). Long a deflationary environment with ultra-low interest rates, Japan woke up to a sea change on the day as policymakers lifted the cap on bond yields. The yen instantly gained against the dollar , while Japan’s Nikkei plummeted. Reacting, Bitcoin analysts were anything but jubilant despite the short-term benefits for BTC/USD. Japan, seeming to follo