Der weltweit erste Yen-gebundene Stablecoin debütiert in Japan und wird auf Ethereum und Polygon live geschaltet

**Summary:**

Japan has launched the world’s first stablecoin pegged to the yen, named JPYC, issued by a Japanese startup. The stablecoin is fully convertible to the yen and backed by domestic savings and Japanese government bonds (JGBs). The company aims to issue 10 trillion yen ($66 billion) worth of JPYC over three years and promote its use overseas. Unlike dollar-backed stablecoins, which dominate the global market, yen-backed stablecoins may take years to gain traction in Japan due to consumer preference for traditional payment methods and regulatory concerns. Japan’s three megabanks are also reportedly planning to jointly issue stablecoins, which could potentially accelerate the adoption of yen-backed stablecoins in the future.

The biggest project out of Japan is JASMY. And they’re down from like $5 lol

Japan does not have a good reputation with blockchain projects