The world's first yen stablecoin was officially launched in Japan today
2025-10-27 02:01:42
Japanese startup JPYC has announced the start of issuing a fully convertible stablecoin backed by domestic savings and Japanese government bonds. Ryozo Himino, deputy governor of the Bank of Japan, said last week that stablecoins could become a key player in the global payment system, partially replacing the role of bank deposits. JPYC will initially charge no transaction fees to expand its use, earning income by holding interest on Japanese government bonds. Tomoyuki Shimoda, a scholar at Rikkyo University and a former central bank executive, believes that it will take at least 2-3 years for the popularity of yen stablecoins in Japan.
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