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TechFlow news, August 17 — According to Jinshi News, Japan's Financial Services Agency will approve the country's first yen-denominated stablecoin JPYC this month. The Financial Services Agency will register fintech firm JPYC Inc. as a money transfer business, with sales expected to begin within weeks of registration. This digital currency will be backed by liquid assets such as government bonds to maintain its value at 1 JPYC = 1 Japanese yen.
According to Jinshi, Japan's Financial Services Agency will approve the country's first yen-denominated stablecoin, JPYC, this month. The agency will register fintech firm JPYC Inc. as a money transfer business, with sales expected to begin within weeks of registration. This digital currency will be backed by liquid assets such as government bonds to maintain its value at 1 JPYC = 1 JPY.
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