JPYC
11 known investors
JPYC Inc. is a Tokyo-based issuer of a regulated Japanese yen-pegged stablecoin used for payments and settlement.
Also known as JPY Coin · JPYC Inc. · JPYC Prepaid
Founders & leadership
Investors · 11
Also in the syndicate · 6
Company profile
researched Aug 2026JPYC Inc. is a Tokyo-based financial technology company that issues and operates JPYC, a stablecoin pegged 1:1 to the Japanese yen. The token was originally launched in January 2021 as an ERC-20 token on Ethereum, structured under Japanese law as a Prepaid Payment Instrument, which allowed the company to issue a yen-denominated stablecoin within Japan's regulatory framework. In August 2025 the company registered as a Funds Transfer Service Provider, becoming the first registered provider in Japan to issue a yen-pegged stablecoin, and launched the regulated version of its stablecoin in October 2025. The regulated token is redeemable 1:1 for yen and backed by fiat reserves consisting of bank deposits and Japanese government bonds.
JPYC circulates across multiple blockchain networks, including Ethereum, Polygon, Avalanche and Kaia, with further chains such as Arc under consideration. Use cases described by the company span on-chain services, credit-card purchases, Web3 wallet settlement, corporate settlements, B2B remittances, salary and reward distribution, machine-to-machine payments executed by AI agents, and prospective cash withdrawal via ATMs. In-store payment pilots with retail and convenience store operators began operating in 2026.
The company positions its work within Japan's policy environment: the Cabinet-approved Basic Policy on Economic and Fiscal Management and Reform 2026 explicitly prioritizes "on-chain finance," the programmable linkage of stablecoin settlement with commercial and logistics data flows on blockchain networks.
Business model
JPYC issues a yen-pegged stablecoin backed by fiat reserves (bank deposits and Japanese government bonds) and operates the issuance and redemption infrastructure around it, distributing the token across multiple public blockchains and into partner applications, wallets and payment schemes for both retail users and enterprises.
Traction
As of April 15, 2026 the company reported cumulative issuance exceeding 2.1 billion yen, described as 2.6x growth over the preceding three months, with about 17,000 direct accounts and more than 137,000 unique wallet addresses that have held JPYC. Ecosystem milestones include an MOU with Sony Bank, adoption of JPYC as a native asset in LINE NEXT's "Unifi" Web3 wallet, a partnership with Nihon Menzei on a blockchain-based tax refund system for inbound tourists, a capital and business alliance with AZ-COM MARUWA Holdings, and in-store payment pilots with retail and convenience store operators.
Latest developments
In August 2026 JPYC announced the completion of a Series B extension round, bringing cumulative Series B funding to approximately 6 billion yen (about $38 million). The extension included roughly 1 billion yen (about $6.3 million) from Tokyo-listed logistics group AZ-COM MARUWA Holdings, which plans to use JPYC for payments to approximately 2,300 business partners and individual contractors, including truck drivers, to enable faster and more frequent settlement than traditional bank transfers. Proceeds are earmarked for ecosystem development across traditional finance and Web3, scaling issuance and redemption infrastructure, application development, hiring in business development, AML/CFT compliance and blockchain engineering, and strategic investments.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
JPYC describes itself as the first Japanese registered funds transfer service provider to issue a yen-pegged stablecoin, operating in a maturing Japanese stablecoin market where other institutional players are also advancing regulated yen tokens. Its stated ambition is to become default digital financial infrastructure and a de facto standard for the digital yen in Japan.
The company built a yen stablecoin within Japanese regulatory constraints, first as a Prepaid Payment Instrument and later under funds transfer service provider registration, with 1:1 yen redeemability and reserves held in bank deposits and Japanese government bonds, combined with multichain availability and enterprise settlement integrations.
Technology
JPYC is implemented as an ERC-20 token on Ethereum using a UUPS upgradeable proxy pattern, supporting minting by multiple entities, pausing, address freezing and token rescue, with audited smart contracts. The token is deployed multichain across Ethereum, Polygon, Avalanche and Kaia, with planned expansion to Arc. The company plans to upgrade its system architecture to financial institution-grade security and internal control standards and to enable machine-to-machine payments in which AI agents autonomously transfer value.
Go-to-market
Retail crypto and Web3 users in Japan, along with enterprises and institutions seeking settlement rails, including corporate B2B remittance users, logistics firms paying business partners and individual contractors such as truck drivers, retailers accepting point-of-sale payments, banks and regional financial institutions, and inbound tourism-related tax refund services.
Geography
Headquartered in Tokyo, Japan, with operations and partnerships focused on the Japanese market, including regional financial institutions and inbound tourism services.
History
Founded in 2019, JPYC launched its yen stablecoin in January 2021 under Japan's Prepaid Payment Instruments regime. The company registered as a Funds Transfer Service Provider in August 2025 and launched its regulated yen-backed stablecoin in October 2025. It closed the first tranche of its Series B in February 2026 (1.78 billion yen), a second close in April 2026 (2.8 billion yen, bringing the series to about 4.6 billion yen), and an extension announced in August 2026 that took the Series B total to about 6 billion yen.
Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 9
launches, deals, and filingsJPYC completed a Series B extension including approximately 1 billion yen (about $6.3 million) from AZ-COM MARUWA Holdings, bringing cumulative Series B funding to roughly 6 billion yen (about $38 million).
$6.3M source ↗
Joint development of a blockchain-based tax refund system for inbound tourists.
Projects exploring in-store payment schemes began operating in 2026, including experiments with convenience store operators and other retail venues.
The Tokyo-listed logistics group plans to use JPYC for payments to approximately 2,300 business partners and individual contractors, including truck drivers.
JPYC launched its yen-backed stablecoin, redeemable 1:1 for yen and backed by yen deposits and Japanese government bonds.
JPYC became Japan's first registered funds transfer service provider to issue a yen-pegged stablecoin.
JPYC launched as an ERC-20 yen-pegged stablecoin classified in Japan as a Prepaid Payment Instrument.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 6
primary sources listed
- Japan's Stablecoin Focused Firm JPYC Secures Additional Series B Funding | Crowdfund Insidercrowdfundinsider.com · web
6 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does JPYC do?
- JPYC Inc. is a Tokyo-based issuer of a regulated Japanese yen-pegged stablecoin used for payments and settlement.
- Who founded JPYC?
- JPYC was founded by Noritaka Okabe.
- Who are JPYC's investors?
- JPYC's investors include Canal Ventures, Global Brain, Hyperithm, Iyogin Capital, JR WEST INNOVATIONS.