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Japan just put the yen on-chain.
SBI launched JPYSC today. The first yen stablecoin backed by a regulated trust bank.
Here is the part nobody is talking about.
Every yen stablecoin before it had a hard cap. 1 million yen per transaction. About $6,500.
JPYSC has no cap.
That one change unlocks corporate settlement, on-chain FX, and institutional lending in yen.
The dollar has owned the stablecoin game. Japan just opened a different door.
And the three megabanks chasing this are still two years out.
Something is cooking.