MUFG PoC to bring Japanese government bond repo transactions onchain
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Sumitomo Mitsui: 10-year Japanese government bond yield may rise to 3% by the end of the year.
According to Odaily Odaily, Masahiro Ichikawa, a strategist at Sumitomo Mitsui DS Asset Management, said that as the Japanese economy remains on a steady growth trajectory, the yield on 10-year Japanese government bonds could reach 3% by the end of the year. He also predicted that if the government's large-scale investment plan can stimulate increased capital spending in the private sector, the Japanese stock market will have further room to rise. He added, "Regarding fiscal policy, Prime Minister Sanae Takaichi has expressed her intention to ensure market confidence, so the possibility of it becoming undisciplined seems low." The yield on 10-year Japanese government bonds rose 6 basis points to 2.830% at the latest. (Jinshi)
The yield on 10-year Japanese government bonds rose to 2.815%.
According to Odaily Odaily, the yield on Japan's 10-year government bonds rose to 2.815%, the highest level since 1996.
JPMorgan Chase's blockchain account has added five more Asia-Pacific currencies, including the Japanese yen, bringing its total transaction volume to over $4 trillion.
According to CoinPost, Kinexys, the blockchain business unit of JPMorgan Chase, announced the addition of five new currencies—AUD, HKD, JPY, RMB, and SGD—to its Blockchain Deposit Account (BDA) network. This brings the total number of supported currencies to eight, including the existing Euro, GBP, and USD, making it the platform with the most supported currencies in the global blockchain settlement and on-chain foreign exchange sector. BDA operates on JPMorgan Chase's private blockchain, supporting 24/7 settlement and programmable payment functions. Japanese energy giant JERA Global Markets became the first company to adopt the Japanese Yen BDA to optimize its internal cash flow management and liquidity allocation. Kinexys has currently processed over $4 trillion in transactions, with a daily average transaction volume exceeding $7 billion.
Vietnamese police reported on the ONUS cryptocurrency case, seizing over 350 kilograms of gold and silver and freezing eight real estate transactions.
Foresight News , citing Vietnam's Tuoi Tre newspaper, the Vietnamese Ministry of Public Security recently held a press conference to report on the investigation into the ONUS cryptocurrency case. A representative from the Investigation and Security Department (A09) of the Ministry of Public Security stated that in the investigation of the ONUS cryptocurrency exchange's alleged embezzlement, police have seized over 350 kilograms of gold and silver, frozen transactions involving eight properties worth 200 billion Vietnamese dong, and suspended over 300 bank accounts used by the defendants to trade with investors. On March 23rd of this year, police filed criminal charges against eight defendants, accusing them of using computer and telecommunications networks to commit embezzlement and money laundering. Since 2018, the perpetrators have exploited the public's lack of understanding of cryptocurrencies, creating digital accounts through applications and packaging them as virtual currencies. They built trust and attracted investment through cyclical buying and selling between affiliated companies, ultimately embezzling funds. Between 2018 and 2021, they sold over 7 trillion Vietnamese dong worth of cryptocurrency. A representative from A09 stated that the case involves numerous individuals and users, with approximately 5 million user accounts currently in operation. Police have received over 2,000 reports from citizens, and the recovery of assets is ongoing. They are also investigating whether social media influencers colluded with the defendants in promoting the cryptocurrency.
Japan's Finance Minister reiterated that the government will respond appropriately to the yen's exchange rate.
Odaily Odaily reports that Japanese Finance Minister Satsuki Katayama stated on Friday that she would not comment on specific foreign exchange levels, but that the government is prepared to take appropriate measures to address currency fluctuations. At a regular press conference, Katayama also emphasized that the Japanese government has maintained close contact with US authorities regarding foreign exchange issues. Regarding the rising yields on Japanese government bonds, she stated that efforts will be made to implement fiscal policies to gain market confidence. Specific monetary policy decisions will be made by the Bank of Japan. It is expected that the Bank of Japan will maintain close communication with the government and will adopt appropriate monetary policy to stabilize and achieve its price target. Regarding the Bank of Japan's economic blueprint, she stated that there are currently no new developments. (Jinshi)
The Japanese government will invest up to $6.2 billion to support companies like SoftBank in developing domestic AI foundational models.
According to Odaily Odaily, the Japanese government announced it will provide up to 1 trillion yen (approximately US$6.2 billion) in funding to support nine companies, including a subsidiary of SoftBank Group, in jointly developing a domestic artificial intelligence foundation model to accelerate the process of catching up with the United States and China in the field of AI. The plan aims to promote the establishment of an independent and controllable AI technology system in Japan, strengthen its "technological sovereignty," and reduce its dependence on overseas large-scale models and computing power ecosystems. The project will focus on the research and development of basic large-scale models, with participants including SoftBank and several technology companies, covering key aspects such as computing infrastructure, model training, and industrial applications. The Japanese government stated that this move reflects how, amidst the accelerating global AI race, countries are using national funding and industry alliances to rapidly build their domestic AI ecosystems in order to enhance their strategic competitiveness. (Nikkei)