Japan’s organizer to agree to the first distinctive symbol placed in the yen, issued by JPYC

Japanese Financial Services Agency (FSA) The first stablecoin will approve the elaet early in this fall, According to the Nihon Keizai Shimbun report Sunday.

Fintech Company JPYC will register it as a money transfer company with FSA, which paves the way to agree to the first Yen Stablecoin. Stablecoin is designed from JPYC to maintain 1: 1 connection with the currency and is supported by liquid assets such as bank deposits and government bonds.

Stablecoins are digital assets that follow the value of traditional financial assets like Fiat. The largest stablecoins like USDT from Tether and Circle’s USDC are linked to dollars, but there are an increasing number of symbols that follow other currencies Like the euro.

Stablecoins was at the forefront of the regulatory developments of digital assets this year, with large judicial states such as US and Hong Kong Providing systems to license and control.

FSA or JPYC did not respond to Coindsk to comment.