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JPYC Stablecoin Goes Live: Will Japan’s Digital Yen Bet Pay Off?
Tokyo startup JPYC introduces the world’s first yen-pegged stablecoin on Monday, October 27. The digital token marks a breakthrough for blockchain technology in Japan’s cash-dominated economy. Authorities approved the launch under new regulations established in 2023. The stablecoin JPYC will operate without transaction fees at launch to attract early users. JPYC backs the token with domestic bank deposits and Japanese government bonds. The company plans to generate revenue from interest earned on its JGB holdings. Meanwhile, stablecoin JPYC targets merchants and households seeking faster payment alternatives. The ... (full story)
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