PANews reported on February 28th that JPYC , the issuer of the Japanese yen stablecoin , has completed its Series B funding round, raising approximately 1.78 billion yen (about US$ 12 million ). The round was led by Japanese IT solutions provider Asteria , with the majority of the funding coming from Japanese companies and investment funds, and BitFlyer Holdings also participating. JPYC is scheduled to launch in October 2025 under Japan's money transfer regulatory framework and is currently the only onshore yen stablecoin. It has partnered with Densan Systems , a payment infrastructure provider covering approximately 65,000 convenience stores in Japan, to explore applications for domestic payments, cross-border remittances, and travel payments within convenience store settings. It also participates in Circle 's stablecoin foreign exchange quotation system, StableFX , for cross-border settlements.