---
title: "JPY Coin v1 (JPYC) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/jpyc-jpyc-v1/"
description: "Build-time stablecoin profile for JPY Coin v1 (JPYC). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# JPY Coin v1 (JPYC)

**Peg:** Japanese Yen

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Legacy prepaid-payment yen token series predating JPYC's funds-transfer-token migration; retained only for discovery and validation. JPY Coin v1 is the older JPYC token series, separate from the current JPYC deployment already tracked by Pharos. It is backed by yen-denominated reserve obligations and legacy redemption processes rather than the newer funds-transfer-token contracts. The Ethereum, Polygon, and Gnosis deployments are retained for discovery and reserve validation. Its main reason to track separately is migration clarity, because the old and current JPYC contracts are not interchangeable. The legacy prepaid {{term:custody}}custody{{/term}} model and its narrower {{term:redemption}}redemption{{/term}} processes are the reason v1 is not interchangeable with the current FSA-licensed JPYC contract.

## Collateral

Japanese-yen reserve assets held for the legacy prepaid-payment JPYC v1 token series

## Peg Mechanism

Prepaid-payment instrument under Japan's Payment Services Act: yen deposited in advance is issued 1:1 as JPYC v1 tokens backed by JPYC Inc. yen reserves. Tokens are non-refundable to cash by design and usable only for payments and free balance transfers; new issuance ended 1 June 2025 ahead of migration to the redeemable funds-transfer-token JPYC.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Japan | FSA | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x2370f9d504c7a6e775bf6e14b3f12846b594cd53` | 18 |
| polygon | `0x6ae7dfc73e0dde2aa99ac063dcf7e8a63265108c` | 18 |
| gnosis | `0x417602f4fbdd471a431ae29fb5fe0a681964c11b` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/jpyc-jpyc-v1.