JPYC

JPYC Inc. is a Tokyo company that issues and redeems JPYC, a stablecoin pegged to the Japanese yen. The company was founded in November 2019.

What it is

JPYC is exchangeable 1:1 for yen, and the company says it is backed by yen held in deposits and Japanese government bonds. Japan's Payment Services Act treats it as an electronic payment instrument. JPYC Inc. describes itself as the first in Japan to issue a yen stablecoin of this kind.

Where it runs

The token is issued on several chains. The company's March 2026 release named Avalanche, Ethereum and Polygon, and its X profile also lists Kaia.

Partnerships

In March 2026 JPYC Inc. and Japan Tax Free (/tags/japan-tax-free) announced a business alliance to build a model for paying tax refunds in a yen stablecoin. In October, Japan Tax Free and UPBOND (/tags/upbond) said visitors to Japan would be able to take refunds in JPYC from November 1, with transfers on Avalanche's C-Chain.

Why it matters on Avalanche

The refund service puts a yen stablecoin in front of ordinary travelers, a consumer payment use on Avalanche's main chain.