Japan Enters Stablecoin Race With Launch of Yen-Pegged JPYC
Japan has launched its first yen-pegged stablecoin, JPYC, developed by Tokyo-based fintech JPYC Inc. Fully backed by yen reserves and government bonds, the stablecoin aims to modernise digital payments and settlements. The launch marks Japan’s entry into the global stablecoin race, long dominated by dollar-backed assets such as USDT and USDC, and could pave the way for faster, low-cost financial transactions.
