World's first yen-pegged stablecoin debuts in Japan
Yahoo Finance·2025-10-27 09:44
By Leika Kihara TOKYO (Reuters) -The world's first stablecoin pegged to the yen launched in Japan on Monday, a small but significant move in a country where many consumers still prefer to use traditional payment means like cash and credit cards. JPYC, a Japanese startup, began issuing the stablecoins - also called JPYC - which are fully convertible to the yen and backed by domestic savings and Japanese government bonds (JGBs). The company aims to issue 10 trillion yen ($66 billion) worth of JPYC over th ...