Japan’s Financial Services Agency (FSA) is poised to approve the country’s first yen-denominated stablecoin, JPYC, with an expected launch as early as this fall. JPYC, a startup based in Tokyo, will issue the stablecoin fully backed by deposits and bonds, pegged 1:1 to the Japanese yen. This regulatory approval marks a milestone in Japan’s digital asset landscape, signaling stronger governmental support for stablecoins and digital currencies in one of the world’s largest economies. The stablecoin is planned to launch on the Polygon blockchain network and aims to extend digital yen access to a broad user base. The move aligns with similar developments in other major economies, including the United States and China, where stablecoin initiatives are also advancing. JPYC’s issuance is anticipated to foster innovation in Japan’s fintech sector and contribute to the broader adoption of digital currencies domestically.