According to @PANewsCN, JPYC will issue a yen-pegged stablecoin in Japan that is fully redeemable for JPY and backed by domestic deposits and Japanese Government Bonds, as reported by Reuters. source: Reuters The stablecoin, named JPYC, will initially charge no transaction fees, with issuer revenue coming from interest on the held JGBs. source: Reuters Japan’s 2023 stablecoin framework enables licensed entities to issue fiat-redeemable stablecoins, providing the regulatory basis for this launch. source: Japan Financial Services Agency