Japan to approve the first stablecoin denominated in yen JPYC

According to Foresight News, the Japan Financial Services Agency will approve the country's first issuance of JPYC, a stablecoin denominated in yen, this month. The Japan Financial Services Agency will register a fintech company, JPYC Inc., as a remittance business company, and it is expected to start selling within a few weeks after registration. The digital currency will be backed by liquid assets such as government bonds to keep its value stable at 1JPYC=1 yen.

Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.