Japan's Financial Services Agency is poised to approve the issuance of the country's first yen-pegged stablecoin, JPYC, in August 2025. The stablecoin will be issued by JPYC Inc., a fintech company that will be registered as a remittance business company. The approval process is expected to conclude within weeks, paving the way for sales to begin shortly thereafter. JPYC will be backed by liquid assets, including government bonds, to ensure its value remains stable at 1 JPYC = 1 yen.