Japan don approve JPYC stablecoin wey dem launch for Ethereum, Avalanche, Polygon
JPYC Inc. don secure registration from Japan Kanto Financial Bureau as fund transfer service provider. Dem plan to issue JPYC stablecoin wey dey pegged 1:1 to Japanese yen and e get yen reserves backing am. JPYC stablecoin go dey for Ethereum, Avalanche and Polygon, make users fit easily exchange and redeem yen for JPYC. As Japan first institution to issue yen-backed stablecoin, dis multi-chain issuance dey aim to boost digital payment solutions and expand Web3 use cases by improving cross-chain liquidity and transaction efficiency.
Bullish
Japan regulator don approve JPYC stablecoin plus e don deploy for multiple chains like Ethereum, Avalanche and Polygon, e dey likely say e go boost crypto market. Just like how USDC and USDT dey expand for many chains, JPYC support for three main networks go increase stablecoin liquidity, make cross-chain trading better and expand use for DeFi and Web3. For short term, traders fit expect more trading pairs plus higher volume weh get yen-pegged assets. For long term, introduction of regulated yen stablecoin go build confidence, reduce wahala for cross-border transactions, and make blockchain payment dey common for Japan market.