JPYC, issued by JPYC Inc., is a Japanese-yen-denominated stablecoin that is exchangeable one-to-one with the yen for both issuance and redemption, classified as an electronic payment instrument under Japanese law. [S1]

Holders of JPYC receive a price-stable instrument tracking the Japanese yen (JPY) at a fixed par value of 1 JPYC to 1 yen. [S1] The token is par-tracking rather than total-return, and the issuer pages describe no yield, NAV accrual, rebasing, or interest pass-through to holders. [S1] Onchain transfers require blockchain network gas fees paid in each chain's native token, such as ETH, POL, or AVAX. [S2]

The issuer is JPYC Inc. (JPYC株式会社), a Japanese company. [S1] JPYC is described as an electronic payment instrument (電子決済手段), the category under Japan's amended Payment Services Act (資金決済法) for fiat-backed, par-redeemable stablecoins. [S1] The holder's claim is redeemable one-to-one for an equivalent amount of Japanese yen. [S1] Backing is preserved in Japanese yen assets, comprising deposits (預貯金) and Japanese government bonds (国債), at one-to-one value to the yen. [S1] JPYC is non-custodial; holders control their own wallets and the issuer does not hold customer JPYC. [S1]

JPYC for the stablecoin is planned for issuance on three blockchain networks: Ethereum, Avalanche, and Polygon. [S1] Issuance and redemption are conducted through the issuer's JPYC EX platform at a fixed 1 JPYC to 1 yen, with redemption returning the equivalent yen amount. [S1] Onchain transactions require gas fees in each network's native token. [S2]

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://blog.jpyc.jp/58ddc689e89049d3a85797233c173566" },
    { id: "S2", url: "https://blog.jpyc.jp/gas-fee" },
  ]}
/>


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JPYC EX

JPY Coin (JPYC) is a Japanese Yen stablecoin issued by JPYC EX through JPYC株式会社.

Each token is redeemable one-for-one for Japanese Yen and is a direct claim on the issuer.

Holders can mint and redeem directly with JPYC EX in JPY, and holders have a contractual right to redeem at par.

JPYC株式会社 is registered under Japan's crypto-asset regime and is supervised by the Financial Services Agency and the Kanto Local Finance Bureau.

JPYC has been issued on public blockchains since June 2025 and is native to Avalanche, Ethereum, and Polygon.

JPY CoinJPYC

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