News, data and analysis on tokenized assets, market design and digital economic systems.
Tokyo issuer of JPYC, a yen stablecoin redeemable one for one against the yen and backed by yen deposits and Japanese government bonds, issued under a funds transfer operator registration held since August 2025.
JPYC Inc issues JPYC, a yen-denominated stablecoin exchangeable one for one with the yen and backed by yen deposits and Japanese government bonds. The company took a funds transfer operator registration in August 2025 and describes itself as the first domestic funds transfer operator to issue a yen stablecoin; the coin runs on Avalanche, Ethereum, Polygon and Kaia. Its releases report 18,000 accounts opened, cumulative issuance of 2.5bn yen and total transaction volume above 35bn yen as at 18 May 2026, figures that describe flow rather than the amount outstanding. In July 2026 it agreed a capital and business alliance with AZ-COM Maruwa Holdings, a listed logistics group whose network it puts at 2,968 member companies, to build a settlement platform paying that network's subcontracted drivers, employees and suppliers in the coin. That is an unusual place for a stablecoin issuer's growth capital to come from, and it points the business at business-to-business payments in a market where the yen has no comparable private settlement rail rather than at exchange float.
Developments in which JPYC is a named party, newest first.
The banks say a week-long July test of a shared yen coin, built around Mitsubishi Corporation's payments abroad, worked. They aim for real use before April 2027, but say neither how much moved nor on what network.
The yen stablecoin issuer says the extension takes the round to about 6bn yen cumulatively, with a listed logistics group aboard.
JPYC Inc said on 5 August 2026 that an extension of its Series B round had taken the round to approximately 6bn yen cumulatively, with AZ-COM Maruwa Holdings as the investor. Its own release of 22 May put that figure at approximately 5bn yen. The two had agreed a capital and business alliance on 22 July to build a settlement platform paying the logistics group's network in the yen stablecoin.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
Unsubscribe in one click.