#Japan #Tokyo #USDC #Circle #JPYC

JPYC Enters Circle Partner Stablecoins Program

JPYC Corporation, headquartered in Chiyoda, Tokyo, is excited to announce that its Japan Yen-based stablecoin, JPYC, has been accepted as a partner currency in the recently announced "Circle Partner Stablecoins" program by Circle Internet Financial. This initiative is set to revolutionize the foreign exchange infrastructure with a focus on innovation in real-time, programmable payment solutions.

Understanding the Circle Partner Stablecoins Program

The "Circle Partner Stablecoins" program aims to create a next-generation on-chain foreign exchange platform consisting of three key components:

1. Arc: A layer one blockchain designed for real-time and programmable payment settlements.
2. StableFX: An on-chain FX engine utilizing a request-for-quote (RFQ) system from multiple liquidity providers for FX transactions.
3. Partner Stablecoins: A global network of regional partners issuing fiat-backed stablecoins, which now includes JPYC, the sole stablecoin representing the Japanese yen.

JPYC plans to closely collaborate with Circle throughout the development phases, laying the groundwork ahead of the anticipated mainnet launch for Arc planned for 2026.

The Role and Significance of USDC

At the core of this initiative is USDC, a stablecoin also issued by Circle, which is pegged to the U.S. dollar at a 1:1 ratio. It is crucial for its high transparency and stability, being widely adopted across exchanges, payment processors, and wallets with a circulating supply amounting to approximately 75.6 billion USD (approximately 11.7 trillion yen). Circle aims to create a network whereby all currencies interoperate via USDC, facilitating seamless exchanges and payments.

As a notable player in this landscape, JPYC provides a stable and immediate exchange method alongside USDC, serving Japan's position within Circle's global exchange network.

Why JPYC was Chosen as a Partner

JPYC was selected for the Circle Partner Stablecoins program due to several distinctive features:

• - A unique market position as a Japan Yen-denominated stablecoin.
• - Established regulatory compliance and risk management systems as a fund transfer operator.
• - Versatile use cases resulting from open wallet compatibility.
• - Existing collaboration avenues via a prior investment from Circle Ventures that have fostered technical and interpersonal exchanges.

This initiative goes beyond mere cryptocurrency trading, aspired to be at the center of international remittances, trade settlements, and cross-border clearing, hence enhancing global money flow. Only institutional investors passing Circle's stringent Know Your Business (KYB) and Anti-Money Laundering (AML) checks will have access to this robust exchange infrastructure, ultimately making it practical for financial institutions and businesses alike.

Circle Partner Stablecoins: A Glance

This endeavor is a part of Circle's new FX solution, StableFX, which seeks to provide a solid infrastructure to enable stable foreign exchange trading and instant settlements, operating 24/7 in collaboration with selected stablecoin issuers worldwide.

Initial Circle Partner Stablecoins:

• - 🇦🇺 AUDF (Australian Dollar)
• - 🇧🇷 BRLA (Brazilian Real)
• - 🇯🇵 JPYC (Japanese Yen)
• - 🇰🇷 KRW1 (South Korean Won)
• - 🇲🇽 MXNB (Mexican Peso)
• - 🇵🇭 PHPC (Philippine Peso)
• - 🇨🇦 QCAD (Canadian Dollar)
• - 🇿🇦 ZARU (South African Rand)

For more details, you can visit the following link: Circle StableFX and Circle Partner Stablecoins.

Future Prospects

JPYC is committed to expanding the potential of the Japanese Yen-denominated stablecoin, particularly by connecting to Circle's Arc testnet and enhancing capabilities across global payments, remittances, and trading. As a pioneer in the issuance of stablecoins from Japan, JPYC aims to contribute towards realizing a "globally interoperable digital yen," while continuously advancing technology, regulatory frameworks, and practical use cases.

About JPYC Corporation

Founded in November 2019, JPYC Corporation has been at the forefront of stablecoin development since 2021, being the first to issue a Japan Yen-denominated stablecoin, JPYC, and achieving registration as a fund transfer operator. With a focus on transparency and cost-effective transfers, the company champions efficient digital financial innovation.

• - Company Name: JPYC Corporation
• - CEO: Noritaka Okabe
• - Location: Otemachi Building 4th Floor, FINOLAB, 1-6-1 Otemachi, Chiyoda, Tokyo
• - Business Description: Issuing and redeeming electronic payment methods, consulting in blockchain and stablecoins
• - Association Memberships: Member of the Japan Blockchain Promotion Association, Japan Cryptocurrency Business Association, and several other financial and fintech organizations.
• - Website: JPYC Corporation
• - Twitter: JPYC Official