World’s First Yen-Pegged Stablecoin Launched in Japan

Japan has introduced the world’s first yen-pegged stablecoin, JPYC, marking a major step in the nation’s digital finance journey. Issued by Japanese startup JPYC, the stablecoin is fully backed by domestic savings and Japanese government bonds (JGBs). The company plans to issue ¥10 trillion (about $66 billion) worth of JPYC within three years, aiming for global use. CEO Noritaka Okabe said the initiative will promote innovation by lowering transaction costs. Supported by Japan’s megabanks, the move signals a growing shift toward blockchain-based financial systems.