Japanese Fintech Firm JPYC Launches Country’s First Legally Recognized Yen Stablecoin
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- JPYC Inc. begins trading Japan’s first regulated yen-pegged stablecoin on Monday.
- Token operates on Avalanche, Ethereum, and Polygon with a 100% reserve backing system.
- The company targets 10 trillion yen circulation within three years after FSA registration.
Japanese fintech company JPYC Inc. has launched the country’s first legally recognized yen-denominated stablecoin. Trading of the JPYC token commenced on Monday and is a milestone for regulated digital currency issuance in Japan.
The company announced it began issuing the JPYC token alongside the launch of its dedicated platform, JPYC EX, which handles issuance and redemption. JPYC Inc. registered as a fund transfer service provider with Japan’s Financial Services Agency in August and meets regulatory requirements to operate.
Stablecoin maintains 1:1 peg with reserves
The JPYC stablecoin maintains a 1:1 …
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In This News
Coins
$ 1.86K
+0.31%$ 0.0737
+1.25%$ 1.02
$ 6.52
-1.08%$ 0.597
Predictions Markets
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