JPYC Circulation Reaches One-Quarter of Internal Goal After First Year

Japan’s yen-pegged stablecoin JPYC ended its first year with about ¥3 billion in circulation, a quarter of the company’s internal target, while its chief executive cited a transaction cap as a barrier to broader corporate use.

JPYC CEO 岡部典孝 said cumulative issuance had topped ¥10 billion by the one-year mark. Cumulative issuance counts tokens issued over time, while circulation measures the amount currently circulating.

JPYC launched in October 2025. More than 150 merchants have adopted or introduced the stablecoin since launch, including restaurants, retailers, farm-direct outlets, mobile businesses and online merchants.

JPYC has signed memorandums of understanding with Sony Bank and LINE NEXT to explore service integration. The agreements describe plans to explore potential integrations, rather than services already in operation.

岡部 cited Japan’s ¥1 million limit on each issuance or redemption transaction as an obstacle to wider corporate use. He said he wants regulators to ease the limits and aims to expand JPYC’s circulation at least 10-fold in its second year.