Convano Inc., a Japanese nail salon chain, is set to launch a stablecoin pegged to the Japanese yen, partnering with crypto exchanges to develop the platform. The initiative, scheduled to begin on September 1, 2025, involves an initial investment of 50 million yen. Convano plans to use Japanese government bonds and other assets to back the stablecoin, ensuring a 1:1 redemption ratio. Due to Japan's funds settlement law, only banks and certain institutions can issue stablecoins. Convano aims to overcome this by collaborating with money transfer providers to build a transfer and settlement network, with a long-term goal of obtaining its own license by December 2027. The company will work with cryptocurrency exchange FINX JCrypto to establish a compliance system. Convano currently holds approximately 365 bitcoins, valued at around 6.4 billion yen.