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By Jamie Crawley|Edited by Sheldon Reback
Aug 18, 2025, 9:13 a.m.
- Japan’s Financial Services Agency will approve the first yen-denominated stablecoin as early as the next few months.
- Fintech company JPYC will register as a money transfer business with the FSA, paving the way for approval of its token.
- Stablecoins have been at the forefront of regulatory advancements of digital assets this year.
Japan’s Financial Services Agency (FSA) will approve the first yen-denominated stablecoin as early as this fall, according to a Nihon Keizai Shimbun report on Sunday.
Fintech company JPYC will register as a money transfer business with the FSA, paving the way for the approval of the first yen stablecoin. JPYC’s stablecoin is built to maintain a 1:1 peg with the currency and is backed by liquid assets such as bank deposits and government bonds.
STORY CONTINUES BELOW
Stablecoins are digital assets that track the value of a traditional financial asset such as a fiat currency. The largest stablecoins such as Tether’s USDT and Circle’s USDC are pegged to the dollar, but there are a growing number of tokens that track other currencies such as the euro.
Stablecoins have been at the forefront of regulatory advancements of digital assets this year, with major jurisdictions such as the U.S. and Hong Kong introducing regimes for their licensing and oversight.
Neither the FSA nor JPYC responded to CoinDesk’s request for comment.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
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By Sam Reynolds|Edited by Sheldon Reback
2 hours ago
Bangkok’s push to revive tourism now includes an e-money wallet for foreign visitors, with a crypto conversion feature still under regulatory review.
What to know:
- Thailand has introduced a Tourist Wallet for QR payments in baht, but the crypto conversion feature is pending regulatory review until mid-August.
- The Tourist Wallet aims to ease payment friction for travelers from countries without cross-border QR links, allowing top-ups via cash, cards, or bank transfers.
- Crypto conversion in the Tourist Wallet requires regulatory approval, with a focus on safety and compliance, and remains unavailable until the review process concludes.
