Digital Garage to Test Yen-Pegged Stablecoin on Blockstream Network

An arm of Tokyo-listed internet group Digital Garage is working with bitcoin infrastructure startup Blockstream to test the issuance of a Japanese yen-pegged stablecoin.

Crypto Garage, a Digital Garage subsidiary focusing on blockchain and crypto tech, announced Monday that it has launched a new platform dubbed SettleNet that would allow app development on Blockstream’s inter-exchange settlement network Liquid, including the issuance of stablecoins.

The initiative, slated to last for a year, is one of the first proof-of-concept trials authorized under a regulatory sandbox program managed by the Japanese government, Crypto Garage said.

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