Japanese startup JPYC has launched the first stablecoin pegged to the Japanese yen, backed by domestic savings and Japanese government bonds. The stablecoin aims to facilitate transactions by waiving initial fees and plans to generate revenue through interest from government bonds. This move aligns with recent comments by Bank of Japan Deputy Governor Ryozo Himino, who highlighted the potential of stablecoins to become integral to the global payment system. Tomoyuki Shimoda, a scholar and former central bank executive, predicts it will take 2 to 3 years for the stablecoin to achieve widespread adoption in Japan.