JPYC Inc., a Tokyo-based startup, has recently launched a new stablecoin named JPYC. According to reports, this token is fully backed by Japanese government bonds at a 1:1 ratio to the Japanese yen.
Along with the token, the company has launched a dedicated platform, JPYC Ex, for issuance and redemption. Notably, this platform will operate under Japan’s anti-money laundering regime, the Act on the Prevention of Transfer of Criminal Proceeds.
According to , several companies have expressed interest in integrating JPYC into their payment and settlement systems. Notably, JPYC’s launch hints at Japan’s evolving regulatory capacity. In 2023, when Japan introduced , they were under multiple regulatory frameworks. Within two years, the scenario has changed massively.
JPYC’s debut in Japan, where cash is the primary transaction medium, shocked the world. Despite the massive craze and government backing, industry experts have opined that it will take 2-3 years for JPYC to gain full momentum.
