(20 August 2025 – Japan) Japanese fintech JPYC Inc. will begin issuing the country’s first stablecoin later this year, following regulatory approval from the Financial Services Agency as a licensed funds transfer service provider.
The new token, branded JPYC, will be fully convertible into yen and backed by local deposits and Japanese government bonds. It is expected to serve both individual remittances and corporate payments.
“We want people in the world to use Japanese yen through our stablecoin,” said Noritaka Okabe, CEO of JPYC. The firm aims to issue up to ¥1 trillion over the next three years, with a cap of ¥1 million per client per business day. While issuance and transfer will be free, there will be no limit on holdings or transfers.
Shah Ramezani, co-founder and CEO of London-based stablecoin infrastructure firm Noah, welcomed the move, calling it evidence of demand for “trusted, local options”. However, he warned that “the real challenge isn’t just launching more coins – it is connecting them in a way that replaces outdated, slow and costly payment systems like Swift. Without global rails, we risk recreating the silos of the old financial system instead of building something genuinely new.”