DeltaForesight Completes ¥324 Million Cumulative Financing for Yen Crypto Project

DeltaForesight has completed ¥324 million in cumulative financing to develop a protocol that would create the yen-linked crypto asset JPYdf using crypto collateral.

The financing was led by Coral Capital, with participation from FFG Venture Business Partners, Decima Fund, Animoca Brands Japan, HashPort, DeFimans and Narrative. The transaction used J-KISS subscription rights for new shares.

DeltaForesight plans to use the funds for protocol development, external security audits, operational monitoring, hiring and partnership expansion.

The JPY DeFi design would allow users to deposit assets such as Bitcoin (BTC), Ether (ETH) and dollar-linked stablecoins into smart contracts, then mint or borrow JPYdf against that collateral. The model is overcollateralized, meaning the value of deposited assets must exceed the value of the JPYdf issued.

Users would be able to maintain exposure to their deposited assets while borrowing JPYdf. However, positions could be liquidated if falling collateral prices push the collateral ratio below the threshold set by the protocol.

The structure differs from a conventional fiat-backed token, in which an issuer holds yen in bank accounts and issues tokens against those reserves. JPY DeFi is designed to use global crypto liquidity to support yen-denominated borrowing, trading and other on-chain activity.

The protocol remains in development before its planned mainnet launch. Its operating conditions and launch timing have not been finalized, while its regulatory, security, risk-management and operational frameworks remain under evaluation.

JPYdf is designed to target value stability but does not represent a yen deposit, a yen-denominated monetary claim or a currency-denominated asset under Japan’s Payment Services Act. The design does not guarantee stable pricing, yen redemption or principal protection.