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Japan is reportedly gearing up to launch its first official stablecoin, as interest for the asset class deepens across Asia. Summary Japan’s FSA set to approve first yen-denominated stablecoin, issued by fintech firm JPYC. The token will be backed by bank deposits and Japanese government bonds. Japan now joins Asia’s wider stablecoin push, building on similar moves in Hong Kong, South Korea, and China. According to a recent report by local outlet Nikkei Asia, Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of a yen-denominated stablecoin in the coming months. The expected rollout will mark the first-of-its-kind move by the country, and the first official digital currency tied directly to the local fiat. Tokyo-based fintech firm JPYC will lead the initiative, and will register with regulatory authorities as a licensed money transfer business before launching the token. Once approved, the stablecoin, which will also be named JPYC, will be issued, backed by liquid assets such as bank deposits and Japanese government bonds. Interested individuals and institutions will be able to apply to purchase the stablecoins using the yen, and receive the assets using digital wallets. The report added that use cases will include international remittances, as well corporate payments and settlements. The stablecoin is also expected to play a role in decentralized finance (DeFi) applications, where blockchain-based products could integrate the yen-backed asset for lending, trading, and asset management services. Japan’s stablecoin push follows regulatory adjustments by the FSA earlier this year, after criticism from local industry members over its strict approach to the sector. The revisions classified stablecoins as “currency-denominated assets,” allowing them to be issued by regulated entities. However, JYPC CEO Norikata Okabe has consistently reiterated that the incoming project cannot be classified as a cryptocurrency.   “JPYC is an electronic payment method, not a cryptocurrency.…

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Filed under: News - @ August 18, 2025 3:31 pm