Vladimir Okhotnikov: Weak dollar is a sign of strong “national” stablecoins

In response to the dollar's decline, the crypto market is reacting by creating stablecoins tied to stable national currencies. For example, Ripple plans to launch a stablecoin tied to the Japanese yen.

Japan has everything to create a highly liquid cryptocurrency: the country has the largest economy in the world and offers a favorable business climate for development.

Despite its conservatism, Japan became the first country to legally enshrine the concept of "crypto asset". Unlike the United States, Japan has a clear and transparent government policy that seeks to attract large companies and startups. The only thing that can slow down the success of a stablecoin is the adoption factor: the Japanese, who traditionally respect fiat, may be distrustful of the new coin. But it's a matter of time.