Japan's New Yen Stablecoin Is Asia’s Only Truly Global Fiat-Pegged Token

Japan's New Yen Stablecoin is Asia’s Only Truly Global Fiat-Pegged Token

With the yen freely convertible and backed by Japan’s deep government bond market, JPYC’s launch stands apart from the region’s onshore-only experiments in Korea, Taiwan, and beyond.

Startup JPYC Launches First Yen-Pegged Stablecoin in Japan

The world’s first stablecoin pegged to the yen was introduced in Japan. The development is “small but significant” in a country where cash and credit cards still enjoy strong popularity, Reuters reported Sunday (Oct. 26). The stablecoins are named after the startup that is issuing them, JPYC, and are fully convertible to the yen and backed by domestic savings and Japanese government bonds (JGBs), the report said. JPYC hopes to issue 10…

Yen-Backed Stablecoin Launches on Ethereum and Polygon

The post Yen-Backed Stablecoin Launches on Ethereum and Polygon appeared on BitcoinEthereumNews.com. Key Notes The firm also introduced JPYC EX, a regulated platform for issuing and redeeming the token. JPYC aims to issue 10 trillion yen over three years. Monex Group and major banks, including MUFG, SMBC, and Mizuho preparing their own yen-pegged stablecoins. JPYC, a Tokyo-based fintech firm, has officially launched a Japanese Yen-backed stablec…

Japan’s Yen Stablecoin Launch Breaks New Ground

This article was first published on Deythere. Japan has officially entered the global stablecoin race with the launch of a yen-pegged stablecoin. The token, issued by Japanese fintech firm JPYC Corporation and backed by domestic deposits and Japanese government bonds (JGBs), sets it apart from other Asian currencies like the Korean won and Taiwan dollar, which face restrictions. Based on reports, this yen stablecoin launch means Japan can use it…