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October 27, 2026 11:45 am
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Japan’s yen-based stablecoin JPYC reached only about 25% of its first-year circulation target, CoinDesk reported. As of Oct. 23, JPYC’s cumulative issuance stood at 12.1 billion yen ($77 million), but actual circulation was just 3.2 billion yen ($20 million).
JPYC CEO Noritaka Okabe said a 1 million yen cap per issuance under Japan’s Type II funds transfer business regulations has been holding back corporate adoption. Despite its listing on Upbit and broader corporate partnerships, JPYC said circulation growth has fallen short of expectations and set a goal of raising circulation to about 10 times the current level in its second year.