JPYC Launches Yen-Pegged Stablecoin Backed by Savings and Government Bonds
SecuredFinance introduces blockchain-based products for JPYC to recreate yen interest rate structures on-chain, expanding decentralized access to Japanese yen rates globally.
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Summary
SecuredFinance announced new blockchain-based products for JPYC, Japan’s yen-pegged stablecoin, aiming to replicate the Japanese yen interest rate structure on-chain. The Switzerland-based company seeks to offer global investors decentralized access to yen rates via networks such as Ethereum and Filecoin. These developments build on JPYC’s fully backed stablecoin model, supported by domestic savings and Japanese government bonds, and complement its multi-chain ecosystem launched in October 2024.
Terms & Concepts
- Yen-Pegged Stablecoin: A cryptocurrency designed to maintain a stable value by being tied to the Japanese yen, backed by reserves such as savings and government bonds.
- Stablecoin: A type of cryptocurrency that aims to maintain a fixed value by pegging it to a reserve asset such as fiat currency or commodities.
- Ethereum: A decentralized blockchain platform that enables smart contracts and decentralized applications, also used for issuing tokens like stablecoins.