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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sony-explores-launching-yen-backed-stablecoin/" data-wpel-link="internal">Sony Explores Launching Yen-Backed Stablecoin</a><br></p>
<p style="text-align: justify">Japanese technology giant Sony’s financial arm, Sony Bank, is considering issuing a yen-backed <strong>stablecoin</strong> as a payment tool for businesses utilizing intellectual property (IP) within the company. This move follows the stablecoin initiative announced by <a href="https://coin-turk.com/balinalari-durmuyor-fiyati-yuzde-100-artan-bu-altcoin-buyuk-birikim-hareketliligi" data-wpel-link="internal">Ripple</a> yesterday. Let’s delve into the details of this development.</p> 
<h2 style="text-align: justify" id="sony-s-major-move-into-stablecoins">Sony’s Major Move into Stablecoins</h2> 
<p style="text-align: justify">Sony Bank has started testing this yen-backed stablecoin, targeting IP payments in gaming and sports within the <strong>Sony</strong> Group.</p> 
<p style="text-align: justify">According to the development, this trial will be conducted on the <strong><a href="https://en.coin-turk.com/polygon-matic-price-analysis-is-the-altcoins-2023-rally-in-danger/" data-wpel-link="internal">Polygon</a></strong> <a href="https://coin-turk.com/altlayer-ekibi-airdrop-kriterlerini-acikladi-tia-detayi-dikkatlerden-kacmadi" data-wpel-link="internal">Blockchain</a>, and it was also emphasized that the step was taken in collaboration with the Belgium-based Blockchain company SettleMint.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-337805 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/sony-coin-turk-com-.png" alt="" width="776" height="352"></p> 
<p style="text-align: justify"><strong>Sony Network</strong> Communications’ President and Representative Director Jun Watanabe confirmed in a post on X that during this trial, Sony Bank will also assess the legal issues that may arise from the transfer of the yen-backed stablecoin.</p> 
<h2 style="text-align: justify" id="widespread-use-of-stablecoins">Widespread Use of Stablecoins</h2> 
<p style="text-align: justify">Officials at Sony Bank stated that the use of stablecoins could potentially enable individuals to transfer money with lower fees. They also indicated that this payment method could be considered an option for businesses using Sony Group’s IP.</p> 
<p style="text-align: justify">Sony’s efforts to integrate <a href="https://en.coin-turk.com/worldcoin-announces-new-developments-in-global-web3-space/" data-wpel-link="internal">Web3</a> technologies into its operations are not limited to this project alone. In March 2023, the company took innovative steps by establishing a framework for the use of <strong><a href="https://coin-turk.com/cardano-nft-pazari-kapilarini-acmaya-hazirlaniyor" data-wpel-link="internal">NFT</a></strong>s on gaming platforms.</p> 
<h2 style="text-align: justify" id="sony-aims-to-establish-its-own-blockchain-network">Sony Aims to Establish Its Own Blockchain Network</h2> 
<p style="text-align: justify">Sony Network Communications aims to establish its own Blockchain network through a partnership with Singapore-based Web3 infrastructure developer Startale Labs. This move reflects the company’s vision to strengthen the global Web3 infrastructure.</p> 
<p style="text-align: justify"><strong>Japanese</strong> tech giant Sony’s steps indicate an increasing interest in Web3 technologies within Japan. Last year, Japan’s Ministry of Economy, Trade, and Industry (METI) took strategic steps to encourage domestic investments in Web3 ventures.</p> 
<p style="text-align: justify">Sony Bank’s trial of the yen-backed stablecoin seems to be opening the doors to a new era in financial technology. The company’s steps could lead to significant changes in the management of digital payments and intellectual property rights in the future. Considering <a href="https://en.coin-turk.com/ripple-xrp-coin-analysis-price-consolidation-and-balances-of-whales/" data-wpel-link="internal">Ripple</a>‘s stablecoin move yesterday, the upcoming period could see a preference for stablecoins due to fast and inexpensive transactions.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sony-explores-launching-yen-backed-stablecoin/" data-wpel-link="internal">Sony Explores Launching Yen-Backed Stablecoin</a></h5>

Sony Explores Launching Yen-Backed Stablecoin

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