Japanese financial giant SBI Holdings Chairman and President Yoshitaka Kitao stated that regarding the competition of Japanese yen stablecoins, the existing yen stablecoins in the market are "very small in scale and have no influence," and he mentioned that if SBI's JPYSC launches officially, related competing projects "may find it difficult to continue." He also revealed that he had considered acquiring the other company but ultimately gave up due to the high offer. Metaplanet CEO Simon Gerovich responded by saying that including JPYC, SBI's JPYSC, and the pilot programs of Japan's three major banks, the three are promoting the yen on the blockchain through different paths. The US dollar stablecoin market already has more than a dozen issuers coexisting, and the overall scale continues to grow; similarly, the Japanese yen stablecoin can also expand through competition among multiple parties.

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