Global debt reached 365 trillion USD in September 2024, rising 10 trillion in six months with emerging markets contributing significantly. Stablecoin issuers are rapidly increasing holdings of short-term US Treasury bonds, potentially doubling their demand to 400 billion by 2030 as foreign investor share declines.
SBI Holdings completed its full acquisition of Japanese cryptocurrency exchange Bitbank for 46.7 billion yen, making it a 100% indirect subsidiary. Bitbank CEO Noriyuki Hirose will remain, and the company plans to expand its digital asset business leveraging SBI's resources and customer base.
Japan's Ministry of Finance established the On-Chain Correspondence Research Group to study real-time blockchain settlement for government bonds, moving beyond the current next-day settlement model. The group includes academics and strategists and will reference U.S. MMF blockchain products, aiming to complete discussion points by year-end.