Japan Introduces Its First Official Stablecoin, Potentially Reaching Millions of Users
JPYC Inc. has released JPYC, the nation’s inaugural yen‑backed stablecoin, operating on Ethereum, Avalanche and Polygon. The token went live on 27 October 2025 after the firm registered as a money‑transfer service under the Payment Services Act. It is recognized as an electronic payment instrument, guaranteeing a 1:1 peg to the Japanese yen. JPYC is fully collateralised by bank deposits and Japanese government bonds, with assets exceeding 100 % of the circulating supply. Users can deposit yen to receive JPYC in personal wallets or redeem JPYC back into yen via the JPYC EX platform. The system requires My Number Card or JPKI verification, ensuring compliance with Japan’s digital identity framework, while offering instant, low‑cost on‑chain transfers. The company targets ¥10 trillion (≈$65 bn) in issuance within three years, positioning itself against larger stablecoins like USDT. Numerous partners—including Densan System, ASTERIA Warp, HashPort Wallet and Nudge Card—have already integrated JPYC for payments, automation and tax services. JPYC aims to provide an open financial infrastructure that developers and businesses can adopt worldwide without bespoke agreements.























