Japan’s first yen-backed stablecoin, JPYC, will officially launch on Monday, Oct. 27. This marks a major milestone in the country’s push toward blockchain-based finance. According to a report by Reuters, the rollout comes after Japan’s Financial Services Agency gave its…Japan’s first yen-backed stablecoin, JPYC, will officially launch on Monday, Oct. 27. This marks a major milestone in the country’s push toward blockchain-based finance. According to a report by Reuters, the rollout comes after Japan’s Financial Services Agency gave its…

First yen-pegged stablecoin JPYC to launch today, Oct. 27

Author: Crypto.news

Source: Crypto.news

2025/10/27 12:34

OCT$0.02748-7.90%

MAJOR$0.12605-1.70%

PUSH$0.01107+0.54%

Japan’s first yen-backed stablecoin, JPYC, will officially launch on Monday, Oct. 27.

Summary

JPYC becomes the first stablecoin fully backed by the Japanese yen and government bonds.
Japan’s megabanks plan to issue their own yen-based tokens to drive institutional use.
Adoption challenges remain as Japan’s population continues to prefer cash transactions.

This marks a major milestone in the country’s push toward blockchain-based finance.

According to a report by Reuters, the rollout comes after Japan’s Financial Services Agency gave its approval, and institutional participation has increased, suggesting a shift in the country’s historically cash-heavy economy.

Backed by yen and government bonds

The JPYC stablecoin is fully convertible into yen and backed by domestic savings and Japanese government bonds. Japan’s adoption of digital payments increased from 13% in 2010 to over 42% in 2024, and the project seeks to accelerate this growth. JPYC will initially waive transaction fees, earning instead from interest on JGB holdings.

Japan’s “Big Three” banks, Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho, are set to launch a joint yen-stablecoin system on Oct. 31 for corporate settlements via MUFG’s Progmat platform. The integration could connect more than 600,000 NetStars payment terminals by mid-November, expanding real-world use.

Stablecoin market potential and adoption hurdles

With its launch, JPYC becomes the first significant non-USD stablecoin supported by a major economy. This could change how liquidity moves throughout Asia. Similar to how U.S. stablecoins have boosted Treasury holdings, Japan’s entry could diversify regional markets and strengthen JGB demand. Currently, the global stablecoin market is worth over $286 billion, with 99% of it being dollar-based.

Bank of Japan Deputy Governor Ryozo Himino recently noted that stablecoins “might emerge as a key player in the global payment system,” partially replacing traditional deposits. Analysts expect yen-pegged tokens to gain traction over two to three years, with potential spillover into decentralized finance, tokenized assets, and cross-border settlement networks.

Market Opportunity

Omnity Network Price(OCT)

$0.02748

$0.02748$0.02748

+0.14%

USD

Omnity Network (OCT) Live Price Chart

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.