Recently, the Web3 field has shown several trends and developments worth paying attention to.

First, the stablecoin market has shown significant growth. In the past week, the total market capitalization of stablecoins increased by approximately $5.918 billion, equivalent to a 2.18% week-on-week growth rate. This data reflects investors' continued confidence in stablecoins as a safe haven in the cryptocurrency market.

At the same time, Japan's financial regulatory authorities are paving the way for the country's first yen-denominated stablecoin, JPYC. This move signifies Japan's active exploration in the digital currency field and is expected to lay the foundation for the yen to play a more important role in the global crypto economy.

In the country, Xiong'an New Area has also welcomed a milestone development. The region successfully implemented its first multilateral central bank digital currency bridge business involving state-owned enterprises. This groundbreaking progress not only showcases China's innovative capabilities in the digital currency field but also provides new possibilities for future cross-border financial transactions.

These developments together paint a picture of an increasingly mature global digital currency ecosystem. From the expansion of market size to the improvement of regulatory policies, and the expansion of practical application scenarios, we are witnessing the rapid evolution of Web3 and digital finance. In the future, as more countries and regions get involved, we may see more innovative financial solutions emerge.