Japan, China and Hong Kong step up stablecoin push Major Asian economies are accelerating their stablecoin initiatives, with notable moves from Japan and China over the past week. Japan’s top financial regulator is reportedly preparing to approve the country’s first yen-pegged stablecoin within the year. The token, issued by fintech startup JPYC, will be backed by liquid assets such as government bonds. According to finance outlet Nikkei, JPYC is expected to register as a money-transfer business this month and aims to issue 1 trillion yen (about $6.81 billion) worth of stablecoins over the next three years. Interest in stablecoins is…