About JPY Coin
JPY Coin is a Japanese yen-pegged stablecoin issued by JPYC Inc., a Tokyo-based fintech company registered as a Type II Funds Transfer Service Provider under Japan's Payment Services Act. Each JPYC token is fixed at a rate of one JPYC to one Japanese yen and is intended for payments and value transfer on public blockchains. JPYC Inc. completed its regulated stablecoin issuer registration in 2025 and launched the current fully redeemable JPYC token on or around October 27, 2025. The token is available on multiple networks including Ethereum, Polygon, and Avalanche. JPYC is a centralized, fiat-backed stablecoin. JPYC Inc. mints and burns tokens against reserves of Japanese yen deposits and Japanese government bonds. Issuance and redemption are handled through the JPYC EX platform after KYC verification. The token is used primarily for payments, transfers, and settlement of yen-denominated value in blockchain wallets and applications. It does not carry staking, governance, or fee-capture functions. The supply is uncapped and elastic, expanding or contracting as tokens are minted or burned against reserves. JPYC is one product of Japan's regulated approach to issuing a blockchain-native digital yen for retail and enterprise payments.
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Japan's silence on forex intervention creates uncertainty, impacting global markets and highlighting policy divergence with the US Federal Reserve.
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Metaplanet's initiative could set a precedent for crypto-backed financial products in Asia, potentially transforming digital asset markets.
A sourced map of JPY Coin's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on JPY Coin and the wider market, hosted by our team, will appear here once episodes are live.