According to TechFlow news on August 18, as reported by Nikkei Chinese Network, the Financial Services Agency of Japan is expected to approve the issuance of a yen-pegged stablecoin named 'JPYC' by the Japanese fintech company JPYC as early as this fall. Individual, corporate, and institutional investors can apply to purchase JPYC, and after transferring payment, JPYC will be remitted to their electronic wallets. In addition to being used for international transfers such as remittances to overseas students, JPYC can also be applied to corporate payments and blockchain asset management services known as decentralized finance (DeFi). JPYC aims to issue 1 trillion yen in the next three years, including hedge funds investing in virtual currencies and family offices managing the assets of the wealthy. Many institutions have already expressed interest in this. It is said that these institutions envision using JPYC for 'arbitrage trading' targeting interest rate spread profits.
