# Circle Partner Launches JPYC, World's First Yen-Pegged Stablecoin

*Author: Jack Inabinet*
*Published: Oct 27, 2025*
*Source: https://www.bankless.com/read/news/circle-partner-launches-jpyc-worlds-first-yen-pegged-stablecoin*

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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](https://www.japantimes.co.jp/business/2025/10/27/tech/jpyc-first-yen-pegged-stablecoin/) 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](https://www.japantimes.co.jp/business/2025/10/27/tech/jpyc-first-yen-pegged-stablecoin/) 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](https://x.com/jerallaire/status/1982725116326027348) to X.

> ついに！！！大変お待たせしました！！！／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＼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](https://t.co/2tCIqqaZ5o)— JPYC株式会社 (@jpyc_official) [October 24, 2025](https://twitter.com/jpyc_official/status/1981619638095213043?ref_src=twsrc%5Etfw)