JPY Coin 

JPYC Price

What is the JPYC stablecoin?

JPY Coin (JPYC) is a fiat-backed stablecoin pegged 1:1 to the Japanese yen, issued by Tokyo-based JPYC Inc. The token launched on October 27, 2025 as the first stablecoin issued under Japan's regulatory framework for funds transfer businesses, operating as a Type II Funds Transfer Business. DropsTab classifies JPYC under Stablecoin. Each token is fully backed by yen bank deposits and Japanese government bonds, with redemption guaranteed at par.

How does JPYC maintain its peg to the Japanese yen?

The peg mechanism runs through minting and redemption at par. JPYC Inc. mints new JPYC tokens only against yen deposited into its reserves, and destroys tokens when holders redeem them. Because redemption at 1:1 is always available, arbitrage keeps the market price close to par. Supply expands with minting demand and contracts on redemption.

Which reserve assets back JPYC's value?

JPYC reserves consist of Japanese yen bank deposits and Japanese government bonds (JGBs). Reserve composition is the asset's key solvency metric: each circulating JPYC corresponds to yen-denominated assets held by JPYC Inc. Because the backing is fully yen-denominated, holders face issuer and reserve risk rather than dilution risk.

What is JPYC used for?

JPYC targets payments and remittances, crypto and NFT purchases, B2B settlement, and digital payroll. Corporate adoption is documented: AZ-COM Maruwa Holdings plans to settle payments in JPYC with roughly 2,300 partner clients, including Amazon Japan. Press coverage reported this as the first large-scale corporate stablecoin use for daily operations in Japan.

Does JPYC have a maximum supply or vesting schedule?

JPYC has no fixed maximum supply. The token is created against reserve deposits and destroyed on redemption, so supply follows demand and no cap exists. Vesting schedules, cliff periods and insider allocations do not apply: every JPYC originates from issuer minting against 1:1 reserves. The issuer has stated an ambition to circulate up to ¥10 trillion of JPYC within three years of launch; the figure is a corporate goal, not a supply cap.

Who invested in JPYC Inc.?

JPYC Inc. raises funding at the company (equity) level. The Series B first close of ¥1.78 billion (about $12 million), reported in February 2026, was led by Asteria Corporation, with bitFlyer Holdings and vehicles linked to Meiji Yasuda Life and West Japan Railway participating. Further closes brought Series B to roughly ¥4.6 billion. An extension announced on August 6, 2026 raised ¥6 billion (about $38 million), with AZ-COM Maruwa Holdings among new investors. Per CoinDesk citing Tracxn, total funding since November 2021 is about $106 million.

Are Japanese banks planning competing yen stablecoins?

Yes. Ventures affiliated with MUFG, built around the bank's Progmat platform, are preparing competing yen stablecoins. JPYC launched as the only onshore-issued yen stablecoin under Japan's framework, so the megabank entries will put JPYC into direct competition with bank-issued instruments in the domestic payments market.

On which exchanges can JPYC be traded?

Per DropsTab data, JPYC trades spot on Upbit against KRW, BTC and USDT and on HTX against USDT. Decentralized liquidity sits in Uniswap V4 pools on Ethereum against USDC, USDT, DAI, WETH, WBTC and the yen-stable CJPY, plus a Uniswap V3 USDC pool on Polygon. No derivative markets are tracked. The venue set is thin for a regulated major-economy stablecoin, and decentralized liquidity is fragmented across multiple pools.

Which blockchains host the JPYC token contract?

Per DropsTab data, one contract address serves all three supported networks: 0xe7c3d8c9a439fede00d2600032d5db0be71c3c29 on Ethereum, Polygon and Avalanche C-chain, verifiable on Etherscan, Polygonscan and Snowtrace. An older "JPYC Prepaid" contract, now deprecated, exists separately on Polygon and Avalanche and should not be confused with the current token.

Does JPYC offer staking or rewards?

No. JPYC offers no staking, yield or rewards mechanism, and no airdrop or points campaign has been associated with the token. The asset functions as a payment instrument: value for holders comes from peg stability and redemption, with distribution handled through exchange listings and direct issuer accounts.