The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.
Research, not financial advice. Read the terms.
About JPY Coin
Analysis of 19 Jul 2026JPY Coin is a redeemable Japanese yen stablecoin issued by JPYC Inc. under Japan's Payment Services Act. The company registered as a fund transfer service provider on August 18, 2025 and began issuing the current JPYC through JPYC EX on October 27, 2025.
Full overviewShow less
One JPYC can be issued or redeemed for one yen, and the issuer states that deposits and Japanese government bonds cover at least 100% of outstanding issuance. This regulated, redeemable asset is distinct from the older JPYC Prepaid product, whose new issuance and exchange support ended in June 2025 and which did not provide the same cash-redemption right.
CoinGecko reported about 8.805 billion JPYC in circulation on July 19, 2026 across Ethereum, Polygon, Avalanche, and Kaia. The core assessment is peg and redemption quality, not price appreciation.
