全球首个日元稳定币来了！日本初创公司JPYC计划三年发行万亿规模

Group 1 - JPYC, a Japanese fintech startup, has received regulatory approval to issue Japan's first yen-pegged stablecoin, marking Japan's entry into the global stablecoin competition [1] - The stablecoin will be fully convertible with the yen and backed by domestic savings and Japanese government bonds (JGB), with plans to issue 1 trillion yen (approximately $6.81 billion) worth of JPYC within three years [1] - JPYC aims to attract institutional investors such as hedge funds and family offices, with applications in arbitrage trading, cross-border remittances, and corporate payments [1] Group 2 - The approval from the Financial Services Agency (FSA) is based on the revised Payment Services Act effective in 2023, which provides a regulatory framework for electronic payment tools convertible with the yen [2] - JPYC will register as a money transfer service provider and plans to start selling its stablecoin products in the coming weeks, generating revenue through interest income from holding more JGB instead of charging transaction fees [2] - Blockchain-based stablecoins are gaining global attention for their fast and low-cost transaction characteristics, with the U.S. also moving towards stablecoin regulations to promote their use in daily payments and settlements [2] Group 3 - The launch of a yen stablecoin could bring fee income in areas such as custody services and collateral management for the banking industry, with several fintech companies expressing optimism about domestic stablecoins [3] - Concerns remain regarding the price volatility of stablecoins and the assumption that one stablecoin will always equal one yen, despite stablecoins typically being less volatile than cryptocurrencies [3] - Anti-money laundering measures will be a focal point if stablecoins are used or traded by unspecified parties, especially in cases of remittances to recipients not subject to KYC restrictions [3]