JPYC has officially become an authorized issuer of a yen-pegged stablecoin in Japan, marking a significant regulatory milestone for digital currency adoption in the country.
Key developments:
- Received official approval to issue yen-backed stablecoin
- Aims to establish digital yen for worldwide usage
- Represents Japan's first fully regulated stablecoin initiative
The company plans to continue efforts toward making their stablecoin a globally recognized digital yen. This approval follows previous regulatory progress, including becoming Japan's first fully backed stablecoin pegged 1:1 to the Japanese yen.
Full details available in the Japanese press release. Follow updates on their official Japanese account @jpyc_official.
We are very pleased to have become an official issuer of a yen–pegged stablecoin in Japan. We will continue our efforts to establish it as a digital yen used worldwide.
Congrats to the @jpy_coin team and @noritaka_okabe for his leadership. Circle is proud to be an early investor. Let’s go JPYC/USDC pairs! World's first yen-pegged stablecoin debuts in Japan - reuters.com/sustainability…