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The Japanese Financial Services Agency will approve the issuance of the first yen stablecoin JPYC.
[Golden Finance] According to reports, the Financial Services Agency of Japan will approve the country's first issuance of a stablecoin denominated in yen, JPYC, this month. The Financial Services Agency of Japan will register the fintech company JPYC Inc. as a remittance business company, and it is expected to start sales within a few weeks after registration. This digital money will be backed by liquidity assets such as government bonds to maintain its value stable at 1 JPYC = 1 yen.