COINDESK · 2026-10-27 11:37 UTC

Japan's top yen stablecoin falls short of its target in a disappointing first year

Japan's JPYC stablecoin reached only 3.2 billion yen in circulation as of October 23, falling well short of its issuer's target after one year despite corporate partnerships. CEO Noritaka Okabe acknowledged disappointing growth, citing a 1 million yen daily issuance limit tied to Japan's fund-transfer rules as a constraint on adoption. The stablecoin's business model relies on interest earned from bank deposits and government bonds backing the tokens, so lower circulation directly reduces potential revenue.

Loading the story on Tree News…