"Japan's Financial Services Agency (FSA) spent years designing a framework that would make a collapse like Terra/Luna structurally impossible on its soil."
"Only three types of licensed domestic entities qualify: banks, fund transfer service providers, and trust companies. Each issuer type carries its own reserve structure."
"JPYC became the first company to secure a fund transfer service provider license under the new regime in August 2025."
"The company has set a target of 10 trillion yen in circulation over three years, with a longer-term goal of 60 trillion yen within five years."
JPYC Co. introduced the first fully regulated yen-pegged stablecoin in October 2025, a result of Japan's Financial Services Agency's years of planning. The Payment Services Act amendments, effective June 2023, specify that only banks, fund transfer service providers, and trust companies can issue stablecoins. JPYC, licensed as a fund transfer service provider, operates on multiple blockchains and maintains a 1:1 yen reserve. The company aims for 10 trillion yen in circulation within three years, targeting remittances and cross-border payments.
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