Core Insights - JPYC, a Tokyo-based fintech firm, has launched a Japanese Yen-backed stablecoin, fully backed 1:1 by bank deposits and government bonds, maintaining parity with the Japanese yen [1] - The global stablecoin market has surpassed $300 billion, prompting interest in Yen-backed digital assets [2] - JPYC aims to achieve an issuance balance of 10 trillion yen within three years, positioning its stablecoin as a foundation for new digital financial infrastructure in Japan [5] Company Developments - JPYC President Noriyoshi Okabe described the launch as a significant milestone, with seven companies already interested in integrating the stablecoin [3] - Alongside the stablecoin, JPYC introduced JPYC EX, a platform for issuing and redeeming the token, ensuring compliance with Japan's regulations [4] Market Context - JPYC may face competition as Monex Group plans to launch its own yen-pegged stablecoin, and Japan's largest banks are collaborating to issue a yen-backed stablecoin [6] - Japan's Financial Services Agency is considering regulatory changes that could allow banks to invest in cryptocurrencies, indicating a shift towards digital asset adoption [7]

🚨JUST IN: JPYC INC LAUNCHES ITS YEN-BACKED STABLECOIN, JPYC, ALONGSIDE ISSUANCE AND REDEMPTION PLATFORM, JPYC EX ...