JPYC Plans Strategic Allocation of Stablecoin Reserves Amid Market Changes

According to PANews, Japanese stablecoin issuer JPYC intends to allocate approximately 80% of its issuance proceeds to Japanese government bonds (JGBs) and 20% to bank deposits. This strategy may extend to long-term bonds as demand grows. JPYC launched its yen-pegged stablecoin under the revised Payment Services Act framework on October 27, with a current circulation of about $930,000 and a target of reaching $66 billion in three years. CEO Noritaka Okabe noted that as the Bank of Japan (BOJ) slows its bond purchases, stablecoin reserves could fill the market gap. Meanwhile, Japan's Financial Services Agency (FSA) supports a yen payment stablecoin project involving Mizuho, MUFG, and SMBC, which commenced issuance this month.