Japan Set to Launch First Yen Stablecoin under FSA Regulation

Japan’s Financial Services Authority (FSA) is poised to approve its first yen-pegged stablecoin, backed by bank deposits and government bonds. This groundbreaking move signals a clear regulatory path for the country’s foray into stablecoins. According to reports, JPYC Inc., a Tokyo-based fintech company, will likely be the first issuer of this stablecoin, which is expected to launch this fall.