JPY Coin

JPYC holds the distinction of being the first yen stablecoin licensed under Japan's revised Payment Services Act, issued by Tokyo fintech JPYC Inc. under a registered funds-transfer license from the Financial Services Agency. Each token targets one yen, not one dollar, and the company says every coin outstanding is matched by yen bank deposits and Japanese government bonds held in reserve. Unlike offshore coins that gate redemption to institutions, JPYC offers a retail path: a verified user can deposit yen to mint tokens and redeem them one-to-one back into yen through JPYC's platform or partner banks. It circulates on Ethereum, Polygon, Avalanche and Kaia. The design leans on domestic Japanese law rather than foreign attestations, pointing JPYC at everyday payments and remittances inside Japan.