JPYC Launches Japan’s Pioneer Regulated Stablecoin with 10 Trillion Yen Target

JPYC Inc. has launched Japan’s first legally recognized yen-pegged stablecoin, JPYC, beginning trading on Monday.

The token is fully compliant, backed 100% by yen reserves and government bonds in accordance with Japan’s Payment Services Act. It operates on blockchains including Ethereum, Avalanche, and Polygon.

Users can acquire JPYC through the new JPYC EX platform after verifying their identity with a “My Number” card.

The issuer has set a formidable target of 10 trillion yen ($65.4 billion) in circulation within three years, aiming to become a cornerstone of Japan’s burgeoning digital asset ecosystem.