The Asian cryptocurrency adoption so far is the best one. Many countries, instead of a permanent ban, consult and develop each other to implement digital currencies into the traditional financial system.
Japan, as one of the strongest economies in the world, is holding more neutrality toward cryptocurrencies rather than a complete ban. Moreover, the highest representatives of Japan government institutions pointed out many times that the state does not need to use digital currencies. For instance, Haruhiko Kuroda, the Governor of the Bank of Japan, explained that the government is exploring the possibility of using blockchain technology in case this need arises.
Kuroda noted that fixed-rate digital coins should not be issued unless there is a sufficient basis for monitoring and risk management. According to the head of the central bank, stablecoins can pose a threat to the financial system of the state.
While the Bank of Japan is still considering the opportunity, other experts from leading companies are one step ahead. The team of experts introduced the first cryptocurrency index for institutional investors. It was launched by Nomura Research Institute, the country’s largest consulting company, together with MV Index Solutions and the Intelligence Unit. The NRI / IU Index includes Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and XRP. Two indexes are available for investors to choose from: denominated in US dollars and Japanese yen. Rebalancing will occur monthly.
“Strong demand from institutional investors is contributing to the growth of crypto-asset funds, and well-diversified products like index funds are attractive as alternative investments. We will bridge the traditional financial world and the crypto-asset world by providing institutional-grade crypto-asset benchmarks, further establishing the status of crypto-assets as alternative investments,” said Akihiro Niimi, head of Intelligence Unit.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.