Japan’s Financial Services Agency to Approve First Yen-Pegged Stablecoin JPYC
According to ChainCatcher, citing Jinshi News, Japan's Financial Services Agency is set to approve the country's first yen-pegged stablecoin, JPYC, later this month. The Financial Services Agency will register the fintech company JPYC Inc. as a remittance business operator, and sales are expected to begin within a few weeks after registration. This digital currency will be backed by liquid assets such as government bonds to maintain its value at 1 JPYC = 1 yen.
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