Japan has launched its first legally recognized stablecoin, fully backed by reserves in yen and government bonds. It was introduced by the fintech company JPYC Inc, and the token is already available on the Ethereum, Avalanche, and Polygon blockchains.
This is reported by Business • Media
Functionality and Features of the JPYC Stablecoin
JPYC is classified as an electronic payment instrument designed for simple and quick transactions. The main features of the new token include a 1:1 exchange rate with the Japanese yen, instant transfers without loss of value, as well as low fees and high transaction processing speeds on the blockchains.
All JPYC tokens are backed by reserves: over 100% of the token volume is held in deposits and Japanese government bonds. The JPYC EX platform allows users to purchase JPYC by depositing yen or exchanging JPYC back into fiat currency. Identity verification through the My Number Card or JPKI is mandatory to use the platform.
The company has set an ambitious goal of achieving a circulation of 10 trillion yen (approximately $65 billion) within three years.
Partnerships and Integrations of JPYC
Since its launch, the stablecoin has already been adopted by several Japanese services and companies. Densan System Co is expanding offline payment and e-commerce capabilities for over 65,000 retail locations. ASTERIA Warp automates financial operations for more than 10,000 client companies. The HashPort Wallet supports JPYC in the EXPO2025 Digital Wallet, which can be used by 700,000 people. N Suite by double jump.tokyo optimizes corporate asset management, while Nudge Card allows purchases to be paid with credit cards converted to JPYC. The comilio service uses JPYC for payments to content creators in Japan and abroad, and CryptoLinC provides automatic transaction accounting for tax reporting.
In comparison, the market capitalization of the USDT stablecoin currently exceeds $183 billion.
“The new economic sphere based on JPYC is rapidly taking shape. […] To accelerate this trend, we will continue to strengthen collaboration with partner companies and strive to develop products and build an ecosystem that meets a wide range of needs for both corporate and individual clients.”
JPYC is positioned as an open financial infrastructure that businesses and developers can integrate without entering into separate agreements. The company noted that it aims to open new opportunities for stablecoins in Japanese yen not only in Japan but also internationally.
Plans for the launch of JPYC were announced back in August 2025, and the stablecoin is now officially launched and actively being implemented across various sectors.