Key Notes

The firm also introduced JPYC EX, a regulated platform for issuing and redeeming the token.

JPYC aims to issue 10 trillion yen over three years.

Monex Group and major banks, including MUFG, SMBC, and Mizuho preparing their own yen-pegged stablecoins.

JPYC, a Tokyo-based fintech firm, has officially launched a Japanese Yen-backed stablecoin amid the rising global demand for the digital asset class. The JPYC stablecoin from the Japanese fintech is fully backed 1:1 by bank deposits and government bonds, maintaining parity with the Japanese yen.

Yen-Backed JPYC Stablecoin Launches on Ethereum, Polygon

The global stablecoin market , mostly dominated by USD-pegged stablecoins, has reached over $300 billion. As a result, other global markets are exploring potential opportunities

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