PANews reported on August 19th that PR Times reported that JPYC Co., Ltd. has been registered as a " fund transfer service provider " by the Kanto Local Finance Bureau in Japan, becoming the first institution in Japan to issue a stablecoin pegged 1:1 to the Japanese yen. The JPYC stablecoin will use the Japanese yen as its reserve asset and will be issued on Ethereum, Avalanche, and Polygon. Users can exchange and redeem Japanese yen for JPYC. JPYC is differentiated from traditional cryptocurrencies and aims to enhance digital financial payments and Web3 application scenarios.