JAPAN'S JPYC LAUNCHES FIRST LEGALLY APPROVED YEN STABLECOIN

Summary from the TLDR Crypto newsletter

JPYC Inc. has launched Japan's first legally recognized yen-backed stablecoin, fully compliant under the country's Payment Services Act. Pegged 1:1 to the yen and backed by bank deposits and government bonds, the JPYC token is live on Avalanche, Ethereum, and Polygon, with issuance and redemption handled via the new JPYC EX platform. Users can acquire tokens after KYC through Japan's My Number ID system. JPYC targets ¥10 trillion ($65B) in circulation within three years. Multiple Japanese firms plan to integrate JPYC into retail and enterprise payment systems, signaling Japan's entry into regulated, large-scale stablecoin adoption.