Stablecoins

Stablecoin Issuers, megabanks, stablecoin-related operators, a tokenized deposit implementation support operator, overseas stablecoin-related companies

I. Overview

1. Stablecoin Market Status in Japan
      1.1. Market Outline
        1.1.1 Market Formation Background
        1.1.2 Market Structure
        1.1.3 Trends in Legal Regulations
      1.2. Entry Models and Role Allocation for Domestic Operators
        1.2.1. Limitations on Issuers and Role Allocation
        1.2.2. Involvement of Infrastructure/Platform Operators
      1.3. Perspectives on Markets and Systems
        1.3.1. Stablecoin Intermediary System
        1.3.2. Perspectives on CBDCs
        1.3.3. Stablecoin Issuers as New Buyers in the
   Government Bond Market
        1.3.4. Developments Regarding Stablecoins by Big Tech Companies
2. Performance Trends in Issuance and Circulation
3. Stablecoin Issuers
      3.1. Trends in JPYC, a Remittance-Type Stablecoin
      3.2. Trends in Trust-Based Stablecoins
        3.2.1. Strategic Trends Regarding Stablecoins at SBI Holdings
4. Core Strategies and Positioning of Mega Banks
      4.1. Mitsubishi UFJ Financial Group
      4.2. Sumitomo Mitsui Financial Group
      4.3. Mizuho Financial Group
      4.4. Progmat
5. Stablecoin-Related Operators
      5.1. TIS
      5.2. Ginco
      5.3. HashPort
      5.4. Stripe
      5.5. Resona Group
6. Tokenized Deposit Implementation Support Operator: DeCurret DCP
7. Challenges
      7.1. Adapting to Changes in the Regulatory Environment
      7.2. Usability and Experience Design Independent of User Literacy
      7.3. Difficulty in Acquiring Merchants in the B2C Domain
8. Stablecoin Market Forecast (2025–2030 Forecast)
9. Future Outlook
      9.1. Advancement of On-Chain Integration for Existing Financial Businesses
      9.2. Programmability
      9.3. Potential for Overseas Remittance Adoption
      9.4. Potential Applications in Payments Closely Tied to Daily Living Infrastructure
      9.5. Utilization in the Micropayment Domain
      9.6. Use of Dollar-Denominated Stablecoins in the Inbound Tourism Sector
      9.7. Role within the Web3 Ecosystem
      9.8. Increasingly Distinct Roles for Tokenized Deposits and Stablecoins
      9.9. Potential of Unified Ledgers

II. Stablecoin Trends Overseas

1. United States: Market Expansion Led by Private Issuers and Regulatory Progress
      1.1. Market Overview
        1.1.1. Overview and Composition of the Global Cryptocurrency Market Size
        1.1.2. Basic Structure and Structural Risks of the U.S. Stablecoin Market
      1.2. Regulatory Status
      1.3. Digital Currency Policy (CBDC) in the United States
      1.4. Strategies for Market Participants
        1.4.1. Strategies for Private Issuers
        1.4.2. Forms of Engagement by Financial and Fintech Firms
        1.4.3. Expansion of Use by Institutional Investors and Corporations
        1.4.4. Characteristics of Entry Strategies
      1.5. Initiatives to Strengthen Operations
      1.6. Stablecoin Issuance Volume Trends and Forecasts
      1.7. Challenges and Future Outlook
        1.7.1. Systemic Risks Identified by Public Authorities (Treasury, FRB, etc.)
        1.7.2. Structure of the Supervisory Framework and Operational Challenges
        1.7.3. Reward Distribution Guidelines and Institutional Framework Development for Institutional Participation
        1.7.4. Implications
2. Trends Among Global Financial Institutions (Bulge Bracket)
      2.1. Global Comprehensive Financial Groups
        2.1.1. JPMorgan Chase's Strategy Combining Tokenized Deposits and Stablecoins
        2.1.2. Goldman Sachs (The Goldman Sachs Group, Inc.)
        2.1.3. Citigroup Inc.
        2.1.4. Morgan Stanley
      2.2. Global Asset Management Institutions
        2.2.1. BlackRock, Inc.
3. Europe and International Organizations: Trends in Proof-of-Concepts for Institutional Design and Standardization
      3.1. United Kingdom
        3.1.1. Policy Background and Approach Direction
        3.1.2. Institutional Design and Proof-of-Concept Progress for the Digital Pound
        3.1.3. FSMA 2023
        3.1.4. Central Bank Perspectives and Institutional Structure Clarification
      3.2. Europe and BIS
        3.2.1. Background
        3.2.2. EU Harmonized Regulation: Establishing Common Rules through MiCA
        3.2.3. Project Agora
        3.2.4. Key Issues in Europe
        3.2.5. Trends in International Discussions on Common Rules and Common Infrastructure
4. Southeast Asia
      3.1. Singapore
        3.1.1. Market Overview
        3.1.2. Regulatory Environment
        3.1.3. Strategies of Market Players
        3.1.4. Strategies and Business Enhancement Trends of Market Participants
        3.3.5. Stablecoin Issuance Structure and Operational Methods
        3.1.6. Challenges and Future Outlook
      3.2. Malaysia
        3.2.1. Market Overview
        3.2.2. Regulatory Environment
        3.2.3. Strategies of Market Players
        3.2.4. Initiatives for Business Enhancement
        3.2.5. Challenges and Future Outlook
      3.3. Thailand
        3.3.1. Market Overview
        3.3.2. Regulatory Environment
        3.3.3. Strategies of Market Players
        3.3.4. Initiatives to Strengthen Operations
        3.3.5. Challenges and Future Outlook
      3.4. Indonesia
        3.4.1. Market Overview
        3.4.2. Regulatory Environment
        3.4.3. Trends in Indonesia's Crypto Asset Market
        3.4.4. Initiatives to Strengthen Operations
        3.4.5. Challenges and Future Outlook
      3.5. Philippines
        3.5.1. Market Overview
        3.5.2. Payment/Remittance Infrastructure and Policy Environment
        3.5.3. Characteristics of Market Participants: Focus on Remittance Services
        3.5.4. Actual Focus Areas in Policy and Business
        3.5.5. Stablecoin-Related Trends
        3.5.6. Challenges and Future Outlook
      3.6. Vietnam
        3.6.1. Market Overview
        3.6.2. Regulatory Landscape
        3.6.3. Trends in Vietnam's Crypto Asset Market
        3.6.4. Activities and Roles of Major Payment Operators
        3.6.5. Challenges and Future Outlook

III. Company Profiles

1. JPYC inc.
2. SBI Holdings, Inc.
3. TIS Inc.
4. DeCurret DCP Inc.
5. Stripe, LLC.
6. HashPort Inc.
7. Ginco Inc.