JPYC's Upbit listing and payment adoption drive record growth
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Upbit listing creates Korean won demand and record issuance JPYC listed on South Korea's Upbit on Sept 17, the first Korean won trading pair. The price spiked above 2 yen, arbitrage trades multiplied, and circulating supply swelled to about 4.26 billion JPYC by Sept 18, more than double the prior day. This directly boosts demand and new issuance.
This is the biggest new event, directly driving JPYC demand and supply.
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Digital Garage payment platform to support JPYC Digital Garage launched a commercial stablecoin payment platform on Aug 10, initially for USDC but with plans to add JPYC. This expands JPYC's use in everyday payments, increasing demand as more merchants accept it.
New payment platform adoption adds real-world use and demand for JPYC.
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Lawson trial shows JPYC works at checkout Lawson began Japan's first stablecoin payment trial at a store, and paying with JPYC was as easy as a QR code. This proves JPYC can be used in daily shopping, supporting wider adoption and long-term demand.
IZAKA-YA withdrawal issues raise regulatory risk After users of the IZAKA-YA lending service couldn't withdraw funds, JPYC's president reported the complaints to Japan's Financial Services Agency. This could lead to tighter scrutiny of JPYC, hurting its reputation and potentially its price.
Regulatory scrutiny is a real counterweight that could pressure JPYC.
Q3 2026
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JPYC surges on real-world adoption and Upbit listing
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Real-world adoption Lawson's POS pilot showed JPYC works at checkout without new hardware, and logistics firm AZ-COM Maruwa committed to paying 2,300 partners in JPYC, proving real-world use.
This point explains a key force behind JPYC's price rise: growing merchant acceptance.
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Upbit listing and capital raise JPYC's listing on Upbit created Korean won demand, spiking the price above ¥2 and doubling circulating supply to ~4.26 billion. JPYC Inc. also raised ¥6 billion in Series B funding.
This point highlights two major new drivers: exchange listing and capital injection.
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Digital Garage partnership Digital Garage plans to add JPYC to its payment platform, which could further expand adoption and demand for JPYC.
This point shows another new adoption channel that supports JPYC's price.
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Competition and regulatory risks Bank-backed yen stablecoins from SBI and three megabanks threaten market share, and IZAKA-YA withdrawal failures prompted a report to Japan's FSA, raising regulatory scrutiny and reputational concerns.
This point provides a fair counterweight, showing risks that could pressure JPYC's price.
Crypto exchange HTX, formerly Huobi, announced on its official X account on September 28 that it will list the Japanese yen-backed stablecoin JPYC. Deposits are already being accepted, with spot trading set to begin at 10 p.m. the same day and withdrawals at 10 p.m. Japan time on September 29. JPYC is an electronic payment instrument that began official issuance on October 27, 2025, backed by Japanese yen deposits and government bonds, and can be issued and redeemed at a rate of 1 JPYC to 1 yen in principle through a dedicated service. JPYC currently supports four blockchains: Ethereum, Polygon, Avalanche, and Kaia, and of these, the JPYC that HTX will support for deposits and withdrawals is the one issued on Ethereum. HTX also said it will automatically cancel newly placed market buy and sell orders when there are no orders on the order book within 10 percent above or below the latest price. JPYC has seen price deviations from 1 yen on overseas exchanges where trading began earlier, and immediately after South Korea's Upbit started trading it on September 17, buy orders flooded in and the price of 1 JPYC rose well above 1 yen, with circulating supply expanding to about 4.26 billion JPYC by the following morning.
JPYC · Demand · Positive HTX lists JPYC for spot trading and accepts deposits/withdrawals, expanding trading access and demand for the yen-backed stablecoin.
Huobi Global S.A. · Demand · Positive HTX (formerly Huobi) adds JPYC spot trading and deposit/withdrawal support, broadening its listed asset offering.
South Korea Weighs Market Maker System to Tame Crypto After JPYC Quadruples
South Korea's Financial Services Commission, or FSC, is considering introducing a market-making system for digital assets after JPYC, a stablecoin pegged to the Japanese yen, traded at more than four times its pegged value on major South Korean crypto exchanges earlier this month. The exchange Upbit opened JPYC trading on September 17 with an opening price of 12 South Korean won per JPYC before it surged to a peak of 37.6 South Korean won within just one hour, a value more than four times its normal market value. The sudden spike was driven by limited liquidity on Upbit. Yoo Young-joon, director of the digital finance policy division at the FSC, said at a conference in Seoul on Monday that the agency will review the need to introduce systems such as liquidity provision activities to improve the efficiency and stability of the digital asset landscape. There has also been criticism that users suffered losses from the sharp price surge after JPYC was listed, widening calls for discipline in this area. Currently, South Korea's Virtual Asset User Protection Act has no exemption for liquidity provision from its market manipulation provisions, which prevents market makers from providing liquidity in the crypto market. The review comes as South Korea pushes for a broader regulatory framework for the crypto industry, with the FSC stating in July that it plans to propose a comprehensive basic digital asset bill covering stablecoins and the wider crypto market, including regulations for digital asset businesses, exchanges, disclosure and internal controls. But legislators have yet to reach agreement on several key issues in the bill, including rules governing issuers of stablecoins pegged to the won.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution Regulation
JPYC · Regulation · Negative South Korea's FSC is reviewing a market-maker system after JPYC spiked over 4x its peg on Upbit due to thin liquidity, signaling tighter regulatory scrutiny of stablecoin trading.
Kaia and DOZN Partner to Test Won Settlement of Stablecoins Including JPYC
South Korean fintech company DOZN announced on September 22 that it has entered into a business partnership with the Kaia DLT Foundation. The two aim to build a cross-border infrastructure for settling stablecoins pegged to various Asian national currencies in South Korean won. The companies will conduct technical verification for JPY-pegged JPYC, Indonesian rupiah-pegged IDRP, and Philippine peso-pegged PHPC. They plan to verify the entire settlement process, from payment on Kaia to the deposit of won into South Korean bank accounts. Under the mechanism, stablecoins received on Kaia are returned directly to their issuers in exchange for the corresponding fiat currency, after which DOZN converts that fiat currency into South Korean won and deposits it into South Korean bank accounts. The Kaia DLT Foundation will handle connections with stablecoin issuers in each country and the on-chain network, while DOZN will use its financial infrastructure, connected to major South Korean financial institutions, to handle conversion into fiat currency, foreign exchange, and won-denominated settlement. This initiative is not a commercialization effort but a proof of concept to confirm technical feasibility, and the two companies plan to gradually expand the target countries and currencies based on the verification results.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution Demand
Digital Finance & Tokenization › Payments Modernization & Rails Technology
462860.KQ · Demand · Positive DOZN is the named partner handling fiat conversion, FX, and won settlement in the stablecoin proof of concept.
Kaia DLT Foundation · Demand · Positive Kaia DLT Foundation is the named partner managing stablecoin issuer connections and the on-chain network for the settlement test.
KAIA · Demand · Positive Kaia is the settlement network for the stablecoin-to-won proof of concept, driving on-chain usage of the Kaia ecosystem.
JPYC · Demand · Positive JPYC is one of the stablecoins selected for the won-settlement proof of concept, expanding its cross-border use case.
JPYC President Okabe Explains Price Divergence After Upbit Listing, Cites Inventory Shortage and Overnight Work
Regarding the issue of the Japanese yen stablecoin JPYC's price diverging from its roughly 1 yen peg, JPYC President Noritaka Okabe responded to an interview with NADA NEWS on September 18. JPYC was listed on the South Korean crypto exchange Upbit on September 17, and immediately afterward 1 JPYC rose to a level exceeding 2 yen. Arbitrage trades, in which coins issued at 1 yen were sold in the higher-priced market, occurred one after another, and the circulating supply swelled to approximately 4.26 billion JPYC as of 9 a.m. on the 18th, about 2.2 times the previous day's level. Okabe revealed that issuance surged and inventory ran short in the middle of the night, and that employees took on overnight work due to a sharp increase in account applications, and he expressed his gratitude to the employees. He also said he had no knowledge at all of the Upbit listing and had not thought the first day's trading volume would exceed 30 billion yen. Noting that although it is a stablecoin compliant with Japanese regulations, not a single domestic electronic payment method operator has yet begun trading it, he expressed hope for trading to start at an early date. He explained that because JPYC Inc. always receives 1 yen at the time of issuance, it can be redeemed regardless of the secondary market price, and he called on users to use it with peace of mind.
JPYC price briefly diverges to 2.2 yen on Upbit listing, circulating supply up 2.2x day-on-day to over 4.2 billion yen
The total circulating supply of JPYC, a Japanese yen-pegged stablecoin, has surpassed 4 billion JPYC, reaching approximately 4.26 billion JPYC, according to the latest data from JPYC info, which compiles on-chain data. That marks an increase of about 2.36 billion JPYC from roughly 1.89963 billion JPYC as of 10:23 on September 17, a 2.2x rise day-on-day. The trigger was the start of JPYC trading on September 17 on the South Korean crypto exchange Upbit, which opened three markets for the token: Korean won, Bitcoin, and Tether, marking the first time a Korean won-denominated trading pair has been offered for JPYC. Immediately after trading began, the price diverged sharply from its baseline level of around 1 yen, with CoinMarketCap recording a temporary high of about 2.2 yen per JPYC. At the start of trading, the only network Upbit supported for deposits and withdrawals was Ethereum, and JPYC on Ethereum accounted for only about 7 percent of the total at the time, which is seen as one reason the available supply was limited. The price gap drew a rush of funds from investors seeking arbitrage, and reports proliferated on X of users who issued JPYC at 1 yen and swapped it for USDC on DEXs such as Uniswap to turn a profit. As of September 18, Polygon ranked first in circulating supply by chain, followed by Ethereum in second and Kaia in third, and after trading began Upbit also began supporting deposits from Kaia and Polygon.
JPYC · Demand · Positive Upbit listing opened three new trading markets for JPYC, driving circulating supply up 2.2x day-on-day to over 4.26 billion JPYC.
Dunamu Inc. · Demand · Positive Upbit, operated by Dunamu, listed JPYC and opened the first Korean won-denominated trading pair for the token, boosting exchange activity.
Metaplanet CEO Responds to Shareholder Criticism; JPYC Circulation Falls About 600 Million Yen in a Week
Simon Gerovich, CEO of Metaplanet, said in a post on X on September 6 that the company is continuing to review its compensation and governance policies, and, in response to questions and criticism from shareholders, he again explained the intent behind management decisions and the company's efforts toward long-term shareholder value. One of the points of debate over the compensation system is the dilution of shares through the 10th stock acquisition rights for officers and employees. The circulation of the Japanese yen stablecoin JPYC continues to decline, and according to the on-chain data aggregation site JPYC Info, it fell from about 2.708 billion JPYC on August 30 to about 2.097 billion JPYC on September 6, a decrease of about 600 million yen in value over one week. Asset Management One, an asset management company under the Mizuho group, has hired analyst Yoshifumi Nishiyama with an eye toward crypto asset ETFs, and he announced his joining the company on his social media on September 7. The National Sheriffs' Association, a U.S. law enforcement organization, said in a letter on September 3 that it was withdrawing its opposition to the Clarity Act, which defines the market structure for crypto assets, and shifting to a neutral stance. On September 11, the Financial Services Agency issued a warning to Bit Hills, which operates the crypto asset collateralized loan CryptoPawn, saying it was conducting a money lending business without registration.
Bit Hills Inc. · Regulation · Negative Japan's Financial Services Agency warned Bit Hills for operating a money lending business without registration.
3350.JP · Capital · Neutral CEO Gerovich addressed shareholder criticism over compensation and share dilution from the 10th stock acquisition rights, a governance/capital issue with unclear net impact.
JPYC · Demand · Negative JPYC stablecoin circulation fell about 600 million yen in a week, indicating shrinking demand/usage of the token.
8411.JP · Capital · Positive Mizuho-group asset manager Asset Management One hired an analyst with an eye toward crypto asset ETFs, expanding its crypto investment capabilities.
JPYC circulation falls below 2 billion yen, down about 710 million yen in 11 days
The circulation of the Japanese yen stablecoin JPYC has dropped below 2 billion JPYC, totaling 1,999,753,837 JPYC across four blockchains as of 15:00 on September 10. According to the on-chain data aggregator JPYC Info, this marks a decline of about 710 million JPYC, or roughly 26 percent, over 11 days from about 2.708 billion JPYC on August 30. From about 2.097 billion JPYC on September 6, it fell by a further roughly 99 million JPYC over four days, and while the pace of decline is slower than the previous week, the contraction in circulation continues. The decline is centered on circulation on Kaia, which dropped from about 1.78 billion JPYC on August 30 to about 1.158 billion JPYC on September 6 and about 1.037 billion JPYC on September 10, falling by about 121 million JPYC in the four days after September 6 alone. Coinciding with this movement is the end of a JPYC yield perk by the wallet service Unifi on Kaia. Unifi announced on its official X account that it would switch a limited-time perk of 5 percent annualized interest on JPYC deposits to a base rate of 2 percent annualized as of 9:00 a.m. on September 1, and some of the funds that had flowed in for the perk may have been withdrawn in response to the rate change.
Digital Finance & Tokenization › Stablecoin Issuers ▼Demand
Digital Finance & Tokenization › Distribution & Revenue-Share Partners ▼Pricing
JPYC · Monetary · Negative JPYC circulation fell about 26% in 11 days, centered on Kaia, as the Unifi yield perk ended and funds were withdrawn.
UFI · Pricing · Negative Unifi ended its 5% annualized JPYC deposit perk, cutting the rate to 2%, which likely drove withdrawals from its wallet service.
JPYC Circulation Drops for First Time in About 3.5 Months, Largest Weekly Decline of 160 Million Yen
The circulation of the Japanese yen stablecoin JPYC has decreased for the first time in about three and a half months, with the weekly decline reaching approximately 160 million yen, the largest on record. This is believed to be linked to fund movements through the wallet service Unifi on the Kaia network. Unifi has been running a limited-time campaign offering an annual yield of 5%, and since the campaign began, JPYC circulation on Kaia had increased significantly. However, in the week from August 23 to 30, Kaia saw a decrease of about 199 million JPYC, and Ethereum also decreased by about 6.3 million JPYC, while Polygon increased by about 22.3 million JPYC and Avalanche by about 17 million JPYC. The decline on Kaia outweighed the increases elsewhere, and it appears that some of the funds that had flowed in through Unifi were withdrawn, leading to this overall decrease.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution ▼Demand
JPYC · Demand · Negative JPYC circulation drops for first time in 3.5 months, largest weekly decline of 160 million yen, due to withdrawals from Unifi campaign.
IZAKA-YA Turmoil: JPYC's Okabe Reports to Financial Services Agency
Amid a series of complaints from users unable to withdraw funds from the crypto-asset lending service "IZAKA-YA," Noritaka Okabe, representative director of JPYC Inc., which issues the yen-pegged stablecoin JPYC, revealed on August 26 that he had conveyed users' consultations to the Financial Services Agency (FSA). Okabe visited the FSA on the 24th and provided information to the "Settlement and Digital Finance Group Monitoring Office" of the Payment and Settlement Division. He explained that he decided to provide the information due to concerns about reputational damage to JPYC itself, given that users had directly consulted him with complaints such as "I deposited JPYC but it hasn't been returned," and that IZAKA-YA had announced it would support JPYC transactions. IZAKA-YA is operated by Hong Kong's Izakaya Limited, which has suspended transfers and withdrawals for some accounts after confirming transactions suspected of involving illicit fund inflows or money laundering.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution ▼Regulation
JPYC · Regulation · Negative Okabe reported user complaints to the FSA due to reputational damage to JPYC from IZAKA-YA's suspension, potentially triggering regulatory scrutiny.
LINE NEXT's Unifi wallet now supports direct issuance and redemption of JPYC
On August 24, the stablecoin wallet Unifi, operated by LINE NEXT, began offering direct issuance and redemption of the Japanese yen stablecoin JPYC. This feature was made possible through integration with JPYC EX, the official platform run by JPYC Inc. Users can enter the desired amount on Unifi and, after confirmation of a Japanese yen deposit, have JPYC automatically issued into their wallet at a rate of one JPYC to one yen. They can also withdraw and redeem their JPYC holdings as Japanese yen to a bank account. Unifi is a non-custodial stablecoin wallet that runs within the LINE app and began supporting JPYC on May 22. As JPYC Inc. advances support for the Kaia chain and revises issuance limits, the Kaia chain accounted for roughly 1.94 billion JPYC, or about 68 percent of the total circulating supply of approximately 2.85 billion JPYC as of August 25. With the implementation of direct issuance and redemption, a pathway is now in place for converting between Japanese yen and the stablecoin entirely within the wallet, without going through an external platform.
Lawson and Netstars conducted a pilot test on August 17 at the Lawson Gate City Osaki Atrium store in Osaki, Tokyo, linking Netstars' store-facing stablecoin payment service, Stablecoin Pay, with existing POS registers. Using USDC, USDT, and JPYC held in MetaMask, they verified payment speed, store operations, and user operability. NADA NEWS confirmed the payment flow on-site and asked both companies about challenges toward practical implementation.
AZ-COM Maruwa Forms Capital and Business Alliance with JPYC to Introduce Stablecoin for Payments to 2,300 Partner Companies
AZ-COM Maruwa Holdings announced on July 22 that it has signed a memorandum of understanding for a capital and business alliance with JPYC Inc., the issuer of the yen-denominated stablecoin JPYC. The company will invest approximately 1 billion yen to acquire a 2.9% voting stake and will gradually introduce JPYC for payment of outsourcing fees to roughly 2,300 partner companies, including sole proprietors. The rollout will begin in the Tokyo metropolitan area with a limited scope. The near-term target from closing to payment is around five days, with an image of closing on the 25th and payment at month-end. If achieved, the payment cycle would shrink from the current 20 days to one quarter of that.
BCCC to Accept JPYC for Annual Membership Fees in Industry First
The Blockchain Collaborative Consortium, or BCCC, announced on the 19th that it will add JPYC, a yen-denominated electronic payment stablecoin, as a payment method for annual membership fees starting in July 2026. Supported wallets are unWallet and HashPort Wallet, and the service will initially be used for annual fee payments by member companies. The consortium describes the initiative as the first of its kind by an industry association. Yoichiro Hirano, representative director of BCCC and president of Asteria, said it is the first step in the association putting itself on the user side, and expressed his intention to accumulate tax and accounting expertise and share it with members. Noritaka Okabe, president of JPYC and vice representative director of the consortium, praised the solution as ideal for running an industry association because it enables highly transparent accounting. JPYC began issuance in October 2025, and the amount issued reportedly surpassed 3 billion yen as of May 30, 2026.
Tourism pilot begins with JPYC payments for APA Hotel guests
UPBOND, a blockchain developer, announced on August 19 that it is working with JapanTicket, which operates a tourism experience booking service, to test "in-trip content" that proposes tourism experiences and restaurant reservations to guests staying at APA Hotel. UPBOND is developing "Agentic Wallet" infrastructure that uses AI to suggest experiences to travelers and handles everything through payment with the yen-denominated stablecoin JPYC. Its "Login3.0" platform, which integrates authentication and payment, has about 1 million wallet users in Japan, with more than 4,000 people using it per day. In this pilot, hotel check-in through Login3.0 serves as the entry point, and inbound travelers are offered restaurant reservations at sushi shops and izakaya pubs, Japanese cultural content such as watching morning training at a sumo stable and chopstick-making experiences, and tourist coupons usable at department stores. Payments use JPYC issued by JPYC Inc., aiming to resolve challenges specific to inbound travelers such as foreign exchange fees and payment failures. On August 18, JPYC marked one year since its registration as a funds transfer business, and its total circulating supply has expanded to 2.8 billion yen, with corporate use cases spreading.
JPYC's total circulation exceeds 2.83 billion yen one year after funds transfer business registration
JPYC Inc., issuer of Japan's first yen-denominated stablecoin JPYC, marked one year on the 18th since obtaining registration as a funds transfer business, with total circulation reaching approximately 2.83 billion yen. The company obtained registration as a funds transfer business under Article 37 of the Payment Services Act on August 18 last year, and launched its issuance and redemption platform JPYC EX on October 27, 2025 to begin official issuance. Circulation reached 1 billion yen on June 26 this year, then expanded roughly threefold in less than two months, driven in part by support for the Kaia chain in May. On August 5, cumulative funding reached approximately 6 billion yen through a Series B extension, with logistics giant AZ-COM Maruwa Holdings making a new investment and revealing plans to introduce JPYC for paying outsourcing fees to around 2,300 partner companies. In physical store payments, Japan's first demonstration of POS register integration using the HashPort Wallet was conducted at major convenience store chain Lawson on August 6, and a second verification using MetaMask was carried out on the 17th.
Quantum computer hardware now available for pay-as-you-go use with JPYC
Yuichiro Minato, CEO of quantum computing company blueqat, announced on X on August 15 that quantum computer hardware can now be used on a pay-as-you-go basis with the yen stablecoin JPYC. Using the actual hardware with JPYC does not require a monthly contract, and users pay only for what they use. With blueqat MCP, in addition to a simulator that reproduces quantum circuits on a computer, users can also request computational processing on actual quantum computers. The service is currently connected to a 32-qubit superconducting processor in the Tokyo region. blueqat has now made hardware usage fees available through metered billing with JPYC. The base fee is 10 JPYC per hardware job, plus 0.1 JPYC per shot. A single shot therefore costs 10.1 JPYC. blueqat treats 1 JPYC as equal to 1 yen, and payments are made using Polygon. blueqat also offers a free plan and a paid plan at 980 yen per month, but with JPYC pay-as-you-go, users can run hardware jobs without a monthly contract. The simulator remains free, and JPYC billing applies only to hardware jobs.
Lawson and Cloudflare point to a future where stablecoins blend into social infrastructure
Lawson has launched Japan's first proof-of-concept trial for stablecoin payments at point-of-sale registers, while Cloudflare has unveiled a stablecoin-compatible wallet. Lawson's trial is taking place at a store in Takanawa Gateway City, and paying with JPYC was as effortless as a standard QR code payment. Cloudflare's wallet also supports autonomous payments by AI agents, marking a turning point where the internet itself embeds financial infrastructure. The moves by both companies symbolize that stablecoins are entering a phase where they are quietly woven into existing infrastructure, rather than emerging as a new protagonist.
Digital Garage Launches Commercial Stablecoin Payment Platform, Initial Rollout to JCB and Others
Digital Garage announced on August 10 that it has begun commercial deployment of its stablecoin payment platform, DG Stablecoin Payment Service, or DG SPS. The initial rollout is planned for JCB and its subsidiary DG Financial Technology, known as DGFT. DG SPS connects to existing payment operator systems via API, enabling merchants to accept stablecoin payments, starting with US dollar-denominated USDC on the Base network. The company plans to expand support to the yen-linked stablecoin JPYC, as well as Ethereum and Polygon, and is also moving toward enabling agentic commerce, where AI agents autonomously execute payments.
IMF's Katz says local-currency stablecoins could boost demand for dollar-denominated tokens
International Monetary Fund First Deputy Managing Director Dan Katz said that local-currency stablecoins could actually facilitate the movement of funds into dollar-denominated tokens and increase demand for them. The total market capitalization of stablecoins is around 300 billion dollars, with roughly 99 percent denominated in dollars. If local-currency stablecoins exist on the same blockchain infrastructure as dollar-denominated ones, exchanges between the two become on-chain transactions via decentralized exchanges or liquidity pools, bypassing regulated banks and foreign exchange dealers, making it harder for authorities to control capital movements. Katz cited South Africa as an example, noting that users may prefer dollar-denominated tokens due to liquidity and network effects, and warned of the risk that foreign currency holdings could be pushed higher, especially in fragile economies with restricted access to dollars. In Japan, the yen-denominated stablecoin JPYC is issued on Ethereum and other platforms, with on-chain circulation exceeding 2 billion yen, already creating a situation where it sits alongside dollar-denominated tokens on the same infrastructure.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution ▲Demand
JPYC · Demand · Neutral Article discusses local-currency stablecoins like JPYC potentially facilitating flows into dollar tokens, but impact on JPYC is indirect and unclear.
Lawson conducts Japan's first proof-of-concept for yen stablecoin JPYC payments using existing POS registers
On August 6, Lawson conducted Japan's first proof-of-concept experiment for payments with the yen-denominated stablecoin JPYC using existing POS registers at its Takanawa Gateway City store in Tokyo. Users simply had a barcode displayed on their smartphone scanned by the POS register and pressed an authentication button to complete payment, with usability virtually unchanged from conventional QR code payments. The experiment used a wallet from HashPort, and the company's CEO, President Yoshida, as well as JPYC representative Noritaka Okabe, experienced the payment process on site. A key feature this time is the use of existing POS registers without requiring dedicated terminals or special QR codes. Lawson plans to verify POS system integration, store operations, and payment processing times, and apply the findings to future adoption.
Digital Finance & Tokenization › Payments Modernization & Rails ▲Technology
Lawson, Inc. · Technology · Positive Lawson conducted the first proof-of-concept for stablecoin payments using existing POS registers, testing integration and operations.
JPYC · Demand · Positive JPYC is the stablecoin used in the first proof-of-concept, demonstrating real payment use case.
HashPort Group Inc. · Technology · Positive HashPort provided the wallet for the experiment, showcasing its technology in a real-world payment trial.
JPYC raises 6 billion yen in Series B round, pushing stablecoin for payroll and convenience store payments
JPYC Inc., the issuer of the yen-pegged stablecoin JPYC, has raised a total of 6 billion yen, or 38 million US dollars, in an extended Series B funding round. Part of the new funding, 1 billion yen, comes from AZ-COM Maruwa, a major logistics company listed on the Tokyo Stock Exchange, which plans to use JPYC to pay fees and salaries to approximately 2,300 business partners and independent contractors. Earlier in March, Metaplanet Ventures invested 400 million yen in this Series B round. JPYC, which launched last October as Japan's first registered stablecoin, has also trialed stablecoin payments at branches of Lawson, the country's third-largest convenience store chain. Meanwhile, traditional financial institutions such as SBI Group have launched JPYSC, a yen stablecoin backed by a trust bank, and three megabanks—MUFG, SMBC, and Mizuho—are jointly developing a co-issued stablecoin.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution ▲Capital
Digital Finance & Tokenization › Stablecoin Issuers ▲Capital
Digital Finance & Tokenization › Distribution & Revenue-Share Partners ▲Demand
Digital Finance & Tokenization › Payments Modernization & Rails ▲Demand
JPYC · Capital · Positive JPYC raised 6 billion yen in Series B funding, including investments from AZ-COM Maruwa and Metaplanet Ventures.
9090.JP · Demand · Positive AZ-COM Maruwa invested 1 billion yen and plans to use JPYC to pay fees and salaries to 2,300 partners, creating direct demand for the stablecoin.
3350.JP · Capital · Positive Metaplanet Ventures invested 400 million yen in JPYC's Series B round, representing a strategic investment.
Lawson, Inc. · Demand · Neutral Lawson is mentioned as having trialed stablecoin payments, but no specific impact on Lawson's business is detailed.
JPYC’s Okabe Consults FSA on Stablecoin Donations for Kumamoto Earthquake Relief
JPYC President Noritaka Okabe has revealed that he is consulting the Financial Services Agency’s Fintech Support Desk about a scheme to use stablecoins for donations to support areas affected by the Kumamoto earthquake. The plan involves soliciting donations in JPYC and USDC, swapping USDC for JPYC via DeFi, and then having JPYC redeem the tokens for Japanese yen, with the cash donated to local governments and the Japanese Red Cross Society. The company is also checking whether this entire process would fall under the category of electronic payment instruments business. Okabe explained that this approach requires no system modifications and can be launched most quickly, and he indicated that details will be disclosed once a response is received from the FSA.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution Regulation
JPYC · Regulation · Positive JPYC is consulting the FSA to enable stablecoin donations for earthquake relief, potentially gaining regulatory clarity and adoption.
USDC · Demand · Positive USDC is mentioned as one of the stablecoins to be accepted for donations, increasing its use case.
AZ-COM Maruwa Holdings Partners with JPYC to Build Stablecoin Logistics Payment System
Major logistics company AZ-COM Maruwa Holdings has announced a partnership with JPYC to develop a logistics payment system using stablecoins. With a logistics network encompassing approximately 2,300 partner companies, the aim is a future where compensation is deposited in real time upon delivery completion. This initiative has the potential to fundamentally change how compensation is received, which has traditionally relied on end-of-month paydays and bank transfers, and a new flow of money is about to begin in the logistics industry, where cash flow is directly tied to business.
On-chain finance enters implementation phase, with moves accelerating at JPMorgan, SBI, and others globally
JPMorgan has expanded the supported currencies for its blockchain deposit accounts to eight, in a series of moves signaling that on-chain finance has entered the implementation phase. SBI envisions building a cutting-edge exchange featuring 24/7 trading, instant settlement, and stablecoin support, while JPYC aims to reach a scale of 100 billion yen within the fiscal year. Efforts by major domestic companies are also accelerating, with Lawson starting a proof-of-concept for JPYC payments in August and JCB considering collaboration with Circle on stablecoin utilization. Globally, DTCC has begun live trading of tokenized securities, BlackRock is advancing the convergence of crypto assets and traditional finance, and Visa has announced its stablecoin platform VSP. These developments indicate that stablecoins, tokenized deposits, on-chain government bonds, and ETFs are becoming interconnected, forming on-chain finance as a next-generation financial infrastructure.
Lawson will begin a pilot of in-store payments using the yen-denominated stablecoin JPYC in early August. The test will take place at the Lawson Takanawa Gateway City store operated by KDDI and Lawson, in collaboration with digital asset wallet provider HashPort. The trial will verify a system where a barcode is scanned at the point-of-sale terminal to update the JPYC balance. This is said to be Japan's first pilot of stablecoin payments linked to a POS system. Based on the results, Lawson will consider a full-scale rollout.
Horiemon says there is no reason for paper money to exist, calls for abolishing high-denomination notes and pins hopes on stablecoin adoption
Entrepreneur Takafumi Horie, speaking at a WebX 2026 panel session, discussed the shift from a cash-based society to stablecoins and called for the elimination of high-denomination banknotes. Horie stated that there is no reason for paper money to exist now, and pointed out that getting rid of the 10,000-yen note would be one way to reduce cash usage. He also stressed the importance of creating an environment where yen-denominated stablecoins are easy to use, expressing hope that widespread adoption would bring major change to Japan. Noritaka Okabe, CEO of JPYC, who appeared on the same panel, urged companies to start by actually holding yen-denominated stablecoins and recording them on their financial statements.
Netstars announced on July 13 the launch of Stablecoin Pay, a service that allows merchants to adopt multiple stablecoin payment options in a single package. It is the first service in Japan to enable the introduction and operation of multiple stablecoin payments through a single application, with a processing fee of 0.98 percent. The supported stablecoins are the yen-denominated JPYC and the US dollar-denominated USDC and USDT. The compatible blockchains are Solana and Polygon, and the MetaMask wallet can be used. Support for Aptos, Bitget Wallet, and imToken is planned for summer 2026 and beyond. Existing StarPay merchants at approximately 700,000 locations can continue using their current payment terminals, and sales and settlements can be managed in Japanese yen, eliminating the need to worry about exchange rate fluctuations or custody methods.
HashPort Wallet to Be Operable via AI Agents, Launching in September
HashPort announced that it will launch HashPort Wallet MCP in September, connecting AI agents with its non-custodial wallet, HashPort Wallet. When a user gives instructions via chat, the AI presents a transaction plan combining transfers and swaps on the blockchain, with execution requiring user approval through a PIN or biometric authentication. The first release will feature the ability to exchange and aggregate balances scattered across multiple chains into JPYC via DEX, and plans to support moving assets into DeFi lending and consolidating payments to multiple counterparties into a single plan. By the first half of 2027, the company plans to introduce agentic commerce, enabling travel bookings and shopping payments via AI, as well as integration with business software.
Artificial Intelligence › Agentic AI & Autonomous Workflows Technology
HashPort Group Inc. · Technology · Positive HashPort launches a new product (HashPort Wallet MCP) enabling AI agent integration, a technological advancement.
JPYC · Demand · Positive JPYC is used as the target asset for aggregating balances across chains, increasing its utility and demand.
JPYC · Technology · Positive JPYC is used as the target asset for balance aggregation and exchange via DEX in the wallet's AI agent feature.
JPYC’s Okabe says payments generate yield — how stablecoins are reshaping on-chain finance
At a panel session during IVS2026 CRYPTO ZONE, JPYC CEO Noritaka Okabe stated that payments generate yield, explaining that when stablecoins are used as a means of payment, liquidity is created, which can lead to yield through DeFi and incentive design. Circle’s Kenta Sakakibara positioned stablecoins as infrastructure for value transfer and also touched on their compatibility with AI. Yoshio Tsuki of Osaka Digital Exchange pointed out that if liquidity increases between stablecoins and tokenized MMFs, they could effectively become yield-bearing products, while Emi Hidaka of Nomura Holdings said that payments will form the foundation of on-chain finance. JPYC currently supports four chains — Polygon, Kaia, Avalanche, and Ethereum — with circulation growing particularly on Kaia, and usage in DeFi and NFT trading is expanding among top-tier point-earning users.
Digital Finance & Tokenization › Stablecoin Issuers & Distribution ▲Demand
Digital Finance & Tokenization › Payments Modernization & Rails ▲Technology
JPYC · Demand · Positive JPYC CEO states payments generate yield, and usage in DeFi and NFT trading is expanding, indicating growing demand for JPYC.
大阪デジタルエクスチェンジ株式会社 · Demand · Positive Osaka Digital Exchange's Yoshio Tsuki notes that increased liquidity between stablecoins and tokenized MMFs could make them yield-bearing, potentially benefiting the exchange.
NADA NEWS Launches Weekly Saturday Web3 Quiz, Featuring Key News Including the Imminent Passage of Financial Instruments and Exchange Act Amendments
NADA NEWS has launched a weekly Saturday feature that reviews the week's top news in a quiz format. This week, it was revealed through original reporting that amendments to the Financial Instruments and Exchange Act, which include shifting crypto asset regulations currently under deliberation in the current Diet session to the Financial Instruments and Exchange Act, are close to being passed. The quiz covered foundational knowledge such as the bankruptcy of Mt. Gox and the full name of KYC, as well as the transfer of regulatory oversight from the Payment Services Act to the Financial Instruments and Exchange Act under the regulatory amendments, the blockchain that accounted for roughly 90 percent of the increase in the total circulating supply of the yen-denominated stablecoin JPYC, which surpassed 2 billion yen and grew by 1 billion yen in two weeks, and the amount of assets processed over ten months by the wallet of a suspect arrested by Thai authorities in an Interpol-led international fraud crackdown. Answers and explanations will be announced every Tuesday on the X Space "Weekly NADA NEWS."
Digital Finance & Tokenization › Stablecoin Issuers & Distribution Regulation
JPYC · Regulation · Positive Amendments to shift crypto asset regulations to Financial Instruments and Exchange Act are close to passing, which may provide clearer regulatory framework for stablecoins like JPYC.
Angoya Announces Stablecoin Payment Service "Stebul Pay" Supporting Bank Transfers
Angoya LLC announced on the 10th the launch of "Stebul Pay," a service enabling stablecoin payments via bank transfer. Users do not need a wallet or gas fees, and can pay with the yen-denominated stablecoin JPYC through Japanese yen bank transfers. Merchants face no credit checks or chargebacks, and sales proceeds are credited after JPYC issuance and bank transfer completion. Angoya will exhibit as a Silver Sponsor at the Web3 conference "WebX2026" on July 13 and 14, offering demos of the service and consultations on adoption.
JPYC Surpasses 2 Billion Yen in Total Circulation, Adding 1 Billion Yen in Two Weeks
The total circulation of the Japanese yen stablecoin JPYC has surpassed 2 billion JPYC. Since 1 JPYC is issued and redeemed at 1 yen, the equivalent of 2 billion yen worth of JPYC is circulating on multiple public blockchains. After confirming the total circulation had exceeded 1 billion JPYC on June 26, the circulation increased by the equivalent of 1 billion yen in about two weeks. During this period, the circulation of JPYC on the Kaia chain grew significantly from approximately 420 million JPYC to about 1.31 billion JPYC, with the increase of roughly 890 million JPYC accounting for about 90 percent of the total increase of approximately 1 billion JPYC.
