Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. While dollar-backed stablecoins continue their stranglehold on the global market—commanding 99% of the $286 billion sector—Japan just made a move that could finally give Asia its own digital currency heavyweight. Tokyo-based fintech startup JPYC launched the world’s first fully regulated yen-pegged stablecoin on Oct. 27, marking what could be a turning point for investors tired of depending solely on U.S. ...

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 ...

Simplex, the $1B+ firm behind Japan’s JPYC stablecoin, ran extensive tests on Avalanche.Results: sub-second payments, 1000+ TPS, multi-region reliability.Avalanche is where capital connects to financial-grade stablecoins.AvaCloud (@AvaCloud):Breaking News! 🔺@Simplexholdings and @AvaCloud / @AvaLabs have successfully proven that stablecoins can meet the demanding performance and reliability needs of financial services! 🚀This breakthrough PoC combines Simplex's stablecoin system with AvaCloud's managed https: ...