On Monday, JPYC launched a yen-pegged stablecoin. The Tokyo-based startup’s token, called JPYC, is fully backed by yen deposits and Japanese government bonds. It aims to provide a regulated bridge between traditional banking and blockchain-based payments. “We hope to spur innovation by giving startups access to low transaction and settlement fees,” Noritaka Okabe, CEO of JPYC, said during a press briefing, Reuters reported. “Increasing global interoperability would benefit us too, so we’re open to capita ...

JPYC, a Tokyo-based fintech firm, has officially launched a Japanese Yen-backed stablecoin amid the rising global demand for the digital asset class. The JPYC stablecoin from the Japanese fintech is fully backed 1:1 by bank deposits and government bonds, maintaining parity with the Japanese yen. Yen-Backed JPYC Stablecoin Launches on Ethereum, Polygon The global stablecoin market, mostly dominated by USD-pegged stablecoins, has reached over $300 billion. As a result, other global markets are exploring po ...