Japan Sets to Launch First Yen-Backed Stablecoin, JPYC

Japan is poised to launch its first yen-backed stablecoin this fall, a landmark move in the nation’s effort to integrate digital assets into its regulated financial system. The Financial Services Agency (FSA) approval for JPYC, a project spearheaded by fintech firm JPYC, will bring stability and new opportunities to domestic corporate payments, international remittances, and decentralized finance (DeFi). Backed by highly liquid assets like bank deposits and government bonds, the token aims to maintain a strict 1:1 peg with the yen.