Japan’s Financial Services Agency is expected to approve the issuance of the country’s first yen-pegged stablecoin as early as this fall, local news outlet Nikkei reported Sunday.
The subject of approval is Tokyo-based fintech company JPYC’s stablecoin of the same name. The company plans to register itself as a money transfer business with the FSA within August, the report said. The company is expected to initiate the token sale in the week following the registration.
To support its peg to the Japanese currency, the JPYC stablecoin will reportedly be backed by highly liquid assets such as deposits and government bonds. Its potential use cases include international remittances, corporate payments and DeFi.
JPYC aims to issue 1 trillion yen ($6.78 billion) worth of its stablecoin across three years. The company has already attracted several hedge funds that expressed interest in the stablecoin, the report said.
Japan has taken early steps to regulate stablecoins. In June 2022, the Japanese parliament passed amendments to the Payment Services Act that recognized fiat-pegged stablecoins as “Electronic Payment Instruments.” The amendments also stipulated that only licensed banks, service providers and trust companies would be allowed to issue such stablecoins. In the following year, the country officially defined stablecoins as “currency-denominated assets.”
Several major players in the local financial sector have since begun efforts to branch out to stablecoins. This includes Sumitomo Mitsui Financial Group (SMBC), Japan’s second-largest bank, which announced plans to launch a stablecoin in collaboration with Ava Labs and Fireblocks earlier this year.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
