Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.11% | 0.12% | 2.46% | 25.97% | 0.23% | -- |
Comparison
Fundraising
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| 0x9632...7670 |   JPYC | 28,553,181.48 | 1.09% | $236.51K |
| 0x572b...be2c | JPYC | 26,390,000 | 1% | $218.59K |
| 0x2c9a...b75e | JPYC | 22,553,700 | 0.86% | $186.81K |
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About JPYC
JPYC is a Japanese yen-pegged stablecoin issued by JPYC Inc. under the Payment Services Act as an "electronic payment instrument." Its core business is 1:1 yen conversion, with issuance and redemption free of charge, backed 100%+ by yen deposits and government bonds. It operates on four blockchains (Ethereum, Avalanche, Polygon, Kaia) and is non-custodial, meaning users control their own private keys. The main pain point it addresses is the friction of traditional banking—limited business hours, slow settlements, and high cross-border fees—while also solving the closed-loop problem of existing payment apps like PayPay, where users must be inside the same ecosystem. JPYC is open and interoperable, usable by anyone, including foreign visitors.
In the past six months (March–September 2026), JPYC has progressed significantly. In May, LINE NEXT's Unifi wallet added JPYC support on the Kaia chain. In June, the revised Payment Services Act took effect, and the issuance/redemption limit was relaxed from 1 million yen per day to 1 million yen per transaction. Also in June, JPYC EX underwent a major upgrade and launched a connection API, allowing external wallets and services to directly call issuance and redemption functions. In July, on-chain circulation exceeded 2 billion yen. The same month, a capital and business alliance was announced with logistics firm AZ-COM Maruwa Holdings to build a payment platform for driver and supplier payouts. MisePay also began QR payment trials at three physical stores, and INSPAY started a vending machine pilot in Kyoto. No major negative events occurred in the past two years, though standard risks remain: issuer insolvency, smart contract vulnerabilities, and regulatory changes, all disclosed in official documents.
JPYC, Japan's first regulated yen stablecoin, has achieved several milestones with long-term significance. In May 2026, it completed a Series B round totaling approximately 5 billion yen, with participation from Life Design Fund, marking strong institutional backing for Japan's stablecoin ecosystem. A Japanese logistics firm announced plans to use JPYC for payments to 2,300 partners, potentially becoming the first large-scale corporate adoption of a yen stablecoin, signaling real-economy integration. Lawson launched a JPYC payment pilot at its Takanawa Gateway store, testing stablecoin payments in retail. JPYC also signed a strategic MOU with Sony Bank, bridging traditional finance and stablecoin infrastructure. Additionally, it issued counterfeit token warnings, demonstrating proactive security governance. These events collectively establish JPYC as a foundational player in Japan's regulated stablecoin market, moving from issuance to practical business and retail applications.
Positive: On July 13, JPYC EX underwent a major upgrade, adding Passkey login, account linkage API, and HashPort Wallet integration, simplifying issuance/redemption processes. AZ-COM Maruwa plans to pay about 2,300 truck drivers in JPYC, the first large-scale corporate payroll use case, and received a ¥400 million investment from Metaplanet Ventures. On-chain circulation once exceeded ¥2 billion, and as the first yen stablecoin approved by Japan's FSA, it is expanding into logistics payroll scenarios.
Negative: Since late August, circulation kept declining, falling below ¥2 billion on September 10, down about ¥700 million from roughly ¥2.7 billion on August 30. The main reason is Unifi on Kaia cutting its annual yield from 5% to 2%, causing funds to exit as incentives faded. Cumulative redemptions reached 73.85% of cumulative issuance, showing many tokens are repeatedly issued/ redeemed rather than held.
Noritaka Okabe (Founder & CEO, Twitter: @noritaka_okabe)
Koichi Hirano (CFO & CCO)