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Japan will approve the first stablecoin priced in yen, JPYC.
Jin10 Data, August 17 - According to Nikkei News, the Japanese Financial Service Agency will approve the country's first issuance of a stablecoin denominated in yen, JPYC, this month. The Japanese Financial Service Agency will sign up the fintech company JPYC Inc. as a remittance business company, and it is expected to start sales within a few weeks after registration. This digital money will be backed by liquidity assets such as government bonds to maintain its value stable at 1 JPYC = 1 yen.