JPYC Secures Funds Transfer Operator License for Yen Stablecoin Deployment

JPYC, a Japanese stablecoin issuer, has received approval to operate as a funds transfer operator, paving the way for its yen-backed cryptocurrency deployment on Ethereum, Avalanche, and Polygon networks. The stablecoin is backed by high-liquidity assets such as bank deposits and government bonds, aiming to reach 1 trillion yen in circulation within three years. This move follows JPYC’s successful Series A funding round in November 2021, led by Headline Asia with participation from Circle Ventures.