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



# JPY Coin (JPYC)

**Peg:** Japanese Yen

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Japan's first FSA-approved yen stablecoin, 100% JPY deposit and JGB-backed under a Type II Funds Transfer license; market cap still modest. Japan's first FSA-approved yen stablecoin occupies an enviable regulatory position — Type II Funds Transfer license under the Payment Services Act, 100% backed by JPY deposits and Japanese government bonds, with institutional-regulated custody and zero transaction fees. Deployed on three chains with the JPYC EX platform handling mint/redemption via bank transfer after KYC, the infrastructure is sound but the market cap remains modest — a product that proves regulatory compliance alone doesn't drive adoption. The real threat isn't GYEN (regulated in New York but locked out of Japan's domestic market) but Progmat Coin from Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho — three megabanks whose combined balance sheet makes JPYC look like a rounding error. Being first to market matters less when the second movers have trillion-dollar balance sheets and existing banking relationships with every corporation in Japan. The structural moat is reserves split between bank deposits and JGB {{term:treasury}}treasury bonds{{/term}}, FSA-mandated {{term:attestation}}attestation{{/term}}, institutional-regulated {{term:custody}}custody{{/term}}, and bank-rail {{term:redemption}}redemption{{/term}} via JPYC EX.

## Collateral

Japanese yen deposits and Japanese government bonds (100% backed)

## Peg Mechanism

Direct 1:1 redemption for JPY through JPYC Inc. via the JPYC EX platform; issuance and redemption via bank transfer after KYC; JPYC Inc. holds a Type II Funds Transfer Service Provider license under Japan's Payment Services Act

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Japan | FSA | Type II Funds Transfer Service Provider (Payment Services Act) |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xe7c3d8c9a439fede00d2600032d5db0be71c3c29` | 18 |
| polygon | `0xe7c3d8c9a439fede00d2600032d5db0be71c3c29` | 18 |
| avalanche | `0xe7c3d8c9a439fede00d2600032d5db0be71c3c29` | 18 |

## Live Data

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