Japan is witnessing a significant shift toward regulated digital finance with the launch of JPYC, the country’s first fully yen-backed stablecoin. Backed by bank deposits and government bonds, JPYC provides a 1:1 ratio to the Japanese Yen. This innovative platform, developed by fintech company JPYC Inc., marks a pivotal moment in the nation’s digital financial landscape. The stablecoin is live on Monday and has garnered immediate interest from seven companies eager to integrate it into their operations, according to Business Insider Japan. JPYC EX: A New Standard for Stablecoin Issuance and Redemption JPYC has launched its dedicated platform, JPYC EX, designed under Japan’s Act on Prevention of Transfer of Criminal Proceeds. The system employs strict KYC and transaction monitoring protocols, ensuring adherence to Japanese financial regulations. With JPYC EX, users can seamlessly convert their deposits into the digital equivalent in their wallets, with designated withdrawal accounts for yen conversion. The company aims to achieve an issuance balance of 10 trillion yen within the next three years, establishing a foundation for new financial infrastructure in Japan. **Competitive Landscape and Regulatory Advancements** JPYC’s launch is expected to spur competition within Japan’s stablecoin market. Other firms like Monex Group are also developing their own yen-pegged stablecoins, while major banks like MUFG, Sumitomo Mitsui Banking Corp, and Mizuho Bank are exploring a joint stablecoin issuance project through MUFG’s Progmat platform. The momentum continues with the Financial Services Agency (FSA) reportedly considering regulatory adjustments that could enable banks to incorporate cryptocurrencies such as Bitcoin into their investment portfolios. **DeFi Planet: Your Source for Cryptocurrency Insights** To delve deeper into this and other developments in the cryptocurrency world, visit DeFi Planet and follow us on social media channels like Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.