Japan’s central bank is signaling a potential shift in payment infrastructure, with Deputy Governor Ryozo Himino asserting that stablecoins could partially replace traditional bank deposits. Speaking at the 2025 GZERO Summit in Tokyo, Himino highlighted the rapid growth of non-bank financial institutions and called for modernized regulatory frameworks to keep pace with this transformation. He emphasized the need for tighter regulation on stablecoin usage as innovation continues to outpace existing regulations. Stablecoins, known for their quick settlement times and low fees, offer an alternative to legacy payment systems like SWIFT or ACH. Himino believes these traits will position stablecoins as crucial components of future payment ecosystems, challenging traditional deposit-based banking models.