Japan’s Financial Services Agency plans to approve the country’s first yen-denominated stablecoin as early as this autumn, clearing the way for regulated digital tokens pegged to the Japanese currency. Tokyo-based fintech firm JPYC Inc. will issue the token, known as JPYC, at a one-to-one ratio with the yen and fully back it with bank deposits and Japanese government bonds. The company intends to register as a money-transfer business and aims to place ¥1 trillion ($6.8 billion) of the stablecoin in circulation within three years. The move is expected to expand options for international remittances and other digital payments while potentially lifting demand for government debt used as collateral. It also positions Japan’s financial regulators among the first major authorities to integrate fiat-backed stablecoins into an existing supervisory framework.