In Japan, the Market Organizer Financial Services Agency (FSA) is working to approve a new -based stablecoin for the first time in the country. According to the local press about this development, the new currency planned to be approved is called JPYC and Ethereum $4,560.64 It is developed in a based structure. It is stated that the crypto currency is designed to be fixed to the yen value. It is said that JPYC is aimed to be used in and outside the country, especially in money transfers.
Properties of Yen Supported Stability Money
JPYC’s developer company JPYC Inc. is expected to be exported by. It is reported that the company will officially record as a money transfer company by the end of the month. Following the completion of this process, JPYC Inc. aims to export about $ 7 billion JPYC in the next three years. It is suggested that the currency is designed to keep the value of the Japanese new value constant and thus is planned to be protected from sudden fluctuations.
JPYC is working on the Ethereum Bloczinciri. This approach can offer advantages both in terms of decentralization and transparency. It is stated that this step will be taken by the regulatory institution can contribute to the financial innovation processes in the country.
It is envisaged to be used in international money transfers
The new Stablecoin is planned to be effectively used not only in the country but also in international money transfers. The use of stable money in international payments may decrease in transfer fees and create an increase in speed in transactions. Experts evaluate that this step can help Japan to come to a stronger position in the digital asset market.
The Financial Services Agency is expected to officially announce its decision in a short time. Following the approval, JPYC’s controlled market is on the agenda. It is stated that the authorities are working on various regulations in order to prevent user protection and black money.
JPYC INC. “We aim to provide cost and speed advantage in international transfers with JPYC,” CEO said.
With the implementation of JPYC, the opinion that Japan will bring a new dimension to digital Yen projects stands out. Sector representatives comment that this crypto currency can open up to innovative financial services in the national economy.
With the permission of the regulatory institution, whether the use of stablecoins such as JPYC will become widespread will become clear. It is stated that Japan’s new digital asset policies may also affect regional and global digital money markets.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
