Japan's Financial Services Agency (FSA) is set to approve the country's first yen-denominated stablecoin, JPYC, as early as this fall. Issued by Tokyo-based fintech company JPYC Inc., the stablecoin will maintain a 1:1 peg to the Japanese yen and will be fully backed by deposits and government bonds, ensuring liquidity and stability. This marks a historic milestone for Japan's digital currency landscape and signals stronger regulatory support for digital assets in one of the world's largest economies. The issuance of JPYC aims to facilitate international remittances and broader adoption of stablecoins within Japan's regulated financial system. JPYC is also expected to launch soon on the Polygon blockchain. Separately, the FSA is reportedly considering a restructuring of its Supervisory Bureau to enhance oversight of asset management and insurance sectors, including the creation of a new "Asset Management and Insurance Supervisory Bureau" and renaming the existing bureau to focus on banking and securities supervision.