The Japanese Yen stablecoin JPYC will support issuance on three chains: Ethereum, Avalanche, and Polygon.

JPYC Co., Ltd. has been registered as a "fund transfer service provider" by the Kanto Local Finance Bureau in Japan, becoming the first institution in Japan to issue a stablecoin pegged 1:1 to the Japanese yen. The JPYC stablecoin will use the Japanese yen as its reserve asset and will be issued on Ethereum, Avalanche, and Polygon blockchains. Users can exchange and redeem JPYC for Japanese yen. JPYC is differentiated from traditional cryptocurrencies and aims to enhance digital financial payments and Web3 application scenarios.