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Startup JPYC Issues First JPY-Backed Stablecoin

2025.10.27 10:16:14

On October 27th, the Japanese startup JPYC announced today the formal launch of a stablecoin pegged at a 1:1 ratio to the Japanese Yen. This stablecoin is backed by domestic savings and Japanese government bonds. Ryozo Himino, the deputy governor of the Bank of Japan, recently stated that stablecoins are expected to become an integral part of the global payment system and will partly replace the function of bank deposits. JPYC stated that in the initial stage of the project, transaction fees will be waived to expand the user base, and revenue will be generated through holding government bond interest. Tomoyuki Shimoda, a scholar at Rikkyo University and a former central bank executive, estimates that it will take about 2 to 3 years for the Japanese Yen stablecoin to be widely adopted in Japan.
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