JPYC Inc. launches Japan's first legally-recognized yen-backed stablecoin on Monday, pegged 1:1 to yen, backed by deposits and government bonds, targeting $65.4B circulation in three years.

Japan's JPYC launches country's first yen-denominated stablecoin

Quick Take JPYC Inc. said today it launched the country’s first legally recognized yen-backed stablecoin. The JPYC stablecoin is designed to maintain a 1:1 peg with the yen and is fully backed by yen deposits and Japanese government bonds, the company said. Japanese fintech firm JPYC Inc. said it has launched the country's first legally recognized yen-denominated stablecoin, JPYC. Trading began on Monday, local time.JPYC Inc. said in a press release that it starts issuing the JPYC token on Monda...