JPYC Inc. Unveils Japan’s First Legal Yen-Backed Stablecoin

Japanese fintech company JPYC Inc. has officially launched JPYC, the country’s first stablecoin backed by the Japanese yen and recognized for its legal standing under Japan’s Payment Services Act. Transactions began on Monday via JPYC EX, a platform provided by JPYC Inc., which received registration as a funds transfer service provider with the Financial Services Agency (FSA) in August, ensuring a 1:1 peg to the Japanese Yen. The stablecoin operates across multiple blockchains, including Avalanche, Ethereum, and Polygon.