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Japan Launches First Legal Yen-Pegged Stablecoin JPYC

Japan Launches First Legal Yen-Pegged Stablecoin JPYC

Author:

Global Cryptocurrency

Published:

2025-10-27 11:55:02

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BTCCSquare news:

Japan has officially entered the stablecoin market with JPYC, the country's first regulated digital currency pegged 1:1 to the yen. The Ethereum, Avalanche, and Polygon-compatible stablecoin launched alongside JPYC EX, a dedicated platform for issuance and redemption.

Backed exclusively by yen reserves and government bonds, JPYC requires identity verification through Japan's My Number system. Early adopters include payment processors like Densan System and enterprise software provider Asteria, with wallet service HashPort preparing integration.

Issuer JPYC Inc. targets 10 trillion yen ($65B) in circulation within three years. The launch follows Japan's 2023 regulatory overhaul requiring stablecoin issuers to register, as traditional finance institutions like SMBC explore digital currency offerings.

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