JPYC and Unidos consider partnership on stable coin linked to Japanese yen | CoinDesk JAPAN

JPYC announced on the 8th that it has begun considering a business partnership with Unidos, which operates the overseas remittance service “KYODAI Remittance,” to issue a stablecoin linked to the Japanese yen.

The stable coins that are being considered for new issuance fall under the category of electronic payment methods for the funds transfer industry. Therefore, all users will be able to redeem their tickets for Japanese yen. The number of users is expected to increase as the stability and reliability of digital assets improves.

JPYC issues the Japanese yen stablecoin “JPYC” using a prepaid payment method, and the cumulative amount issued exceeded 2.3 billion yen in November. However, as a general rule, monetary refunds were prohibited.

KYODAI Remittance provides services in over 200 countries and regions and allows remittances to be made in as little as 10 minutes. As of November 2022, the cumulative number of remittances handled exceeds 5.6 million.

｜Text/Editing: CoinDesk JAPAN Editorial Department
｜Image: From the release