What impact does the low value of the yen have on the adoption of digital currencies in Japan?

1 answers

• maryam sarbizhanOct 31, 2024 · 9 months ago
  At BYDFi, we have observed that the low value of the yen has indeed influenced the adoption of digital currencies in Japan. As the yen weakens, more individuals and businesses are turning to digital currencies as a means of diversifying their holdings and protecting against currency devaluation. Digital currencies offer a decentralized and borderless financial system, which can be particularly appealing in a country like Japan, where there is a strong interest in technological innovation. The low value of the yen has acted as a catalyst for the adoption of digital currencies, driving increased interest and usage among the Japanese population.
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