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🇯🇵 Japan is set to approve the issuance of the country's first stablecoin, pegged to the yen, called JPYC.

The issuance is planned for August of this year.

The stablecoin will be issued by JPYC Inc., which will be registered as a money transfer company.

JPYC will be backed by liquid assets, including government bonds, to ensure the stability of its value at 1 JPYC = 1 yen.