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Tokyo fintech JPYC Inc. has launched JPYC, the world's first stablecoin pegged to the Japanese yen. The stablecoin – which is backed by yen bank deposits and Japanese government bonds – is supported across the Ethereum, Polygon, and 
Avalanche networks.
What's the Scoop?
- Regulated Issuer: JPYC Inc. became a registered "Fund Transfer Service Provider" with Japan's Financial Services Agency in August. The license allows JPC to issue the first Japanese yen-denominated stablecoin (JPYC) and launch JPYC EX, a dedicated platform for issuing and redeeming JPYC.
- Yen Turning Point: In an interview with The Japan Times, JPYC CEO Noritaka Okabe called JPYC's launch a “major turning point in the history of the Japanese currency,” one which positions a digital yen as the foundation for Japan’s next-generation financial infrastructure.
- Big Ambitions: According to The Japan Times, Okabe plans to issue ¥10 trillion (~$66 billion) JPYC within three years. Users can now exchange yen for JPYC through JPYC EX using their Japan "My Number ID."
Circle Alignment: 
Jeremy Allaire – the CEO of USDC stablecoin issuer Circle – congratulated the JPYC team on their launch, noted that Circle was an early investor in the company, and alluded to the benefits of onchain JPY-USD liquidity in a post to X.
ついに！！！
— JPYC株式会社 (@jpyc_official) October 24, 2025
大変お待たせしました！！！
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日本円ステーブルコイン「JPYC」および発行・償還プラットフォーム「JPYC EX」を正式リリース
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日本初となる日本円建ステーブルコイン「JPYC（ジェーピーワイシー）」を2025 年10 月27 日より正式に発行開始いたします。https://t.co/2tCIqqaZ5o
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