PANews reported on October 27th that the world's first yen-pegged stablecoin will be launched in Japan on Monday, according to Reuters. A Japanese startup, JPYC, said it will begin issuing a stablecoin fully convertible into yen and backed by domestic savings and Japanese Government Bonds (JGBs). Its stablecoin, called JPYC, will initially not charge transaction fees to focus on expanding its use, but will instead earn income through interest on holding JGBs.