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Japan Launches First Yen-Pegged Stablecoin JPYC, Marking Blockchain Finance Milestone

Japan Launches First Yen-Pegged Stablecoin JPYC, Marking Blockchain Finance Milestone

Author:

Global Cryptocurrency

Published:

2025-10-27 04:43:01

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BTCCSquare news:

Japan's financial landscape takes a decisive step into blockchain-based finance with the launch of JPYC, the nation's first fully yen-backed stablecoin. Approved by the Financial Services Agency, this government bond-collateralized digital currency debuts as digital payment adoption reaches 42%—a threefold increase since 2010.

Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho banks prepare to unleash a corporate settlement system using yen-stablecoins via MUFG's Progmat platform. This institutional push could connect over 600,000 payment terminals by mid-November, though cash preference among Japan's population remains a adoption hurdle.

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