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tldr; JPYC, a Tokyo-based fintech firm, has launched Japan's first yen-backed stablecoin, JPYC, pegged 1:1 to the yen and backed by bank deposits and government bonds. The company also introduced JPYC EX, a platform for token issuance and redemption, ensuring regulatory compliance. JPYC aims to reach a 10 trillion yen issuance balance in three years, with plans to integrate into various services. The Japanese stablecoin market is expanding, with major banks also planning yen-pegged stablecoins. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Is this anything new than the one that already existed previously? We already had a JPYC coin but it had lots of restrictions. For example, you were not allowed to turn it back into Japanese yen and the only way to take it back out was to convert into gift cards. He has literally the company that issued it that you need to turn it into gift cards if you want to take it out so basically this means it was just another shit coin.
Post is by: Imcrypto3 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1ohv7fq/japan_launching_yennbacked_stable_coin/ Japan sees launch of its first yen-backed stablecoin, JPYC JPYC President Noriyoshi Okabe said that the stablecoin has already garnered interest from seven companies that are looking to incorporate it into their services. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*
**Summary:** Japan has launched the world's first stablecoin pegged to the yen, named JPYC, issued by a Japanese startup. The stablecoin is fully convertible to the yen and backed by domestic savings and Japanese government bonds (JGBs). The company aims to issue 10 trillion yen ($66 billion) worth of JPYC over three years and promote its use overseas. Unlike dollar-backed stablecoins, which dominate the global market, yen-backed stablecoins may take years to gain traction in Japan due to consumer preference for traditional payment methods and regulatory concerns. Japan's three megabanks are also reportedly planning to jointly issue stablecoins, which could potentially accelerate the adoption of yen-backed stablecoins in the future.
tldr; Tokyo-based fintech firm JPYC has launched Japan's first yen-backed stablecoin, marking a significant milestone in Japanese currency history. JPYC aims to achieve an issuance balance of 10 trillion yen ($65 billion) within three years, potentially making it the third-largest stablecoin globally. The stablecoin market, currently dominated by USD-pegged coins, is projected to grow significantly, offering opportunities for new entrants. This development highlights the expanding role of stablecoins in global finance and blockchain adoption. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Japanese fintech firm JPYC Inc. has launched the country's first legally recognized yen-pegged stablecoin, JPYC. The token operates on Avalanche, Ethereum, and Polygon blockchains and is backed by 100% reserves in yen deposits and government bonds. JPYC Inc., registered with Japan's Financial Services Agency, aims for a circulation target of 10 trillion yen within three years. The stablecoin complies with Japan's Payment Services Act and is part of the country's regulated digital currency framework. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The JPYC stablecoin stays 1:1 with the yen and fully backed by yen deposits and government bonds too. Looks like Japan’s new crypto regulations are finally starting to pay off with real, compliant projects like this.
tldr; Japan is advancing its stablecoin initiatives with regulated yen tokens under strict laws, aiming to enhance financial sovereignty and reduce reliance on the US dollar and China's digital yuan. Key players like JPYC, SMBC, and SBI VC Trade are leading the charge, supported by legal reforms in 2023 and 2025. Japan Post Bank plans to issue deposit tokens by 2026, while JPYC is launching a licensed platform. The strategy combines fintech, banks, and regulators to create a compliance-first model, positioning Japan as a leader in Asia's digital finance landscape. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
You've missed it. There's JPYC and EURC. Issued by circle as well, same issuer as USDC. If you're American, then makes sense that you missed them because there's really not much opportunities for you to deal with those currencies.
tldr; The article provides an overview of Japanese cryptocurrencies, including utility tokens like $TROB and $YOOL, stablecoins such as GYEN and JPYC, and governance tokens like $TSUGT. It highlights blockchain-based games like Captain Tsubasa Rivals, which use tokens for gameplay and governance. Other tokens include CAICA COIN for GameFi, Kana Labs' KANA for trading, and stablecoins like JPYW and DCJPY for digital payments. Additionally, it mentions asset-backed cryptocurrencies like ZipangCoin linked to gold, silver, and platinum prices. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.