The main reason behind such low interest rate margins of Japanese financial institutions is attributable to the fact that many financial institutions have basically been consistently in the interest rate competition as they compete with each other in the relatively homogenous commercial banking business with an aim to obtain a long-term stable transaction relationship.
Yet gaps may occur where they fall outside the scope of regulators’ authority or where there is an absence of international standards. Any wider use of new types of crypto-tokens would therefore warrant close scrutiny. Their technical stability must be evaluated as well as their impact on monetary and financial stability.