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Adewale Olarinde

Japan surpasses Singapore as APAC's largest local stablecoin hub by early 2026

By early 2026, Japan has overtaken Singapore as the largest local-currency stablecoin market in the Asia-Pacific region, driven mainly by yen-linked JPYC. APAC's local stablecoin supply has climbed from about $40 million since mid-2025 to roughly $58–60 million, with Singapore's XSGD stabilizing below previous highs and other regional tokens contributing little to the rebound.
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