Japan Launches Yen-Backed Stablecoin JPYC: A New Chapter in Crypto Finance

Japan has taken a significant step forward in the realm of stablecoins, launching the JPYC (ジェーピーワイシー), a yen-backed token pegged to the Japanese currency. This innovative move leverages the stability of government bonds and cash reserves to anchor the token’s value, ensuring seamless fiat redemption for users. The JPYC platform will support issuance and redemption on Avalanche, Ethereum, and Polygon chains, offering interoperability across major blockchain networks. JPYC’s unique structure allows integration with existing DeFi protocols, payment rails, and cross-border flows from day one.