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JPYC Inc. launched Japan’s first legally recognized yen-denominated stablecoin.
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JPYC is fully backed by yen deposits and Japanese government bonds.
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The firm aims to reach 10 trillion yen ($65.4B) in circulation within three years.
A Milestone for Japan’s Stablecoin Market
JPYC Inc. has officially launched the country’s first legally recognized yen-backed stablecoin, marking a major milestone for Japan’s growing digital asset sector. The token, named JPYC, began trading on Monday through the company’s platform, JPYC EX.
Regulated and Fully Backed
The stablecoin maintains a 1:1 peg to the yen and operates across multiple blockchains, including Avalanche, Ethereum, and Polygon. JPYC is fully backed by reserves held in bank deposits and government bonds, as required under Japan’s Payment Services Act.
Industry Adoption Grows Quickly
JPYC aims to reach a circulation of 10 trillion yen within three years and has already secured partnerships with fintech and retail companies. Densan System is developing payment systems for merchants, while Asteria and HashPort plan to integrate JPYC into enterprise tools and wallets.
Part of Japan’s Broader Stablecoin Push
Japan tightened its stablecoin rules in 2023, requiring issuers to register under financial laws. Major banks like SMBC have also announced plans to issue stablecoins in collaboration with crypto infrastructure providers.
