JPYC - Japanese fintech startup.
Key launch details:
- Collateral and convertibility: JPYC is fully convertible to the Japanese yen at a 1:1 ratio and is backed by reserves consisting of bank deposits and Japanese government bonds (JGBs).
- Operations platform: A dedicated platform, JPYC EX, was created for the issuance and redemption of tokens. It operates in compliance with Japanese anti-money laundering laws, requiring strict identity and transaction verification.
- Business model: To encourage initial adoption, JPYC will not charge transaction fees. Revenue is planned to be generated from interest on investments in government bonds.
- Ambitions: The company aims to achieve an issuance volume of 10 trillion yen within the next three years.
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