Payment services company Circle is considering issuing a stablecoin in Japan following the recent implementation of legislation governing stablecoins in the country. The revised Payment Services Act in Japan certifies stablecoins backed by legal tender as an 'electronic payment method' and permits their issuance. Circle recently secured a Major Payment Institution (MPI) license in Singapore, enabling it to offer digital payment token services, domestic money transfer services, and cross-border money transfer services in the city-state.