The world's first Japanese yen stablecoin was officially issued today in Japan.

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【The world's first yen stablecoin officially issued in Japan today】Japanese startup JPYC announced the issuance of a stablecoin fully convertible to yen, supported by domestic savings and Japanese government bonds. Last week, Ryozo Himino, Deputy Governor of the Bank of Japan, stated that stablecoins could become key players in the global payment system, partially replacing the role of bank deposits. JPYC will initially not charge any transaction fees to expand its usage, earning revenue through the Interest from holding Japanese government bonds. Tomoyuki Shimoda, a scholar from Rikkyo University and former central bank executive, believes that the popularization of the yen stablecoin in Japan will take at least 2-3 years.

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