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JPY stablecoin issuer JPYC: JPY stablecoin reserves will become a significant buyer of Japanese government bonds
BlockBeats News, November 12 — According to Cointelegraph, Japan’s first officially licensed Japanese Yen stablecoin issuer JPYC stated that as the stablecoin market expands, JPYC may become a significant buyer in the Japanese Government Bond (JGB) market. JPYC plans to invest 80% of its issuance revenue into government bonds and deposit 20% in banks. This model is expected to fill the market gap left by the Bank of Japan’s slowing bond purchases. JPYC began issuing its Japanese Yen stablecoin on October 27, with an current issuance of approximately $930,000, aiming to reach $66 billion within three years.