TechFlow news, August 18 — According to Nikkei China, Japan's Financial Services Agency is expected to approve, as early as this autumn, the Japanese fintech firm JPYC to issue a yen-denominated stablecoin named "JPYC." After individuals, corporations, and institutional investors apply to purchase JPYC and complete payment transfers, the JPYC will be credited to their digital wallets. Besides international remittances such as sending money to overseas students, JPYC can also be used for corporate payments and blockchain-based asset management services known as decentralized finance (DeFi). JPYC aims to issue up to 1 trillion yen within the next three years. Numerous institutions—including hedge funds investing in cryptocurrencies and family offices managing wealth for affluent families—have already expressed interest. These institutions reportedly plan to use JPYC for "arbitrage trading" strategies targeting interest rate differentials.
