Japan’s prime minister Fumio Kishida participated in the crypto conference WebX to share his enthusiasm for the decentralized ecosystem and web3.

According to the CoinPost report, Kishida spoke on his administration’s strategies. He opined that web3 is part of the new form of capitalism.

He also pointed out that the largest Japanese companies would soon announce an ambitious large-scale project to create a valuable economic zone in the metaverse.

Kishida’s statement comes while Circle, the issuer of the second-largest stablecoin, USDC, has been eying to launch a stable cryptocurrency in Japan. The CEO of Circle, Jeremy Allaire, previously said that Japan could be a major stablecoin market.

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