JPY Coin v1 PriceJPYC

What is JPY Coin v1 (JPYC)?

JPY Coin v1 (JPYC) is a Japanese-yen-pegged stablecoin issued by JPYC Inc., a Tokyo-based fintech company. It is designed to track the Japanese yen at a fixed par value of 1 JPYC to 1 yen, making it a par-tracking instrument rather than a floating-price token. The token was launched in 2021 and operates as an ERC-20 token on the Ethereum platform, with additional deployments on Polygon, xDai, and Gnosis. JPYC is classified as a Prepaid Payment Instrument for Own Business under the Japanese legal framework, and its white paper describes it as a regulated stablecoin backed by yen-denominated reserves. JPYC Inc. describes JPYC as the most well-known of Japanese stablecoins and the only one with a strong record of issuance and operation on a public chain. JPY Coin v1 represents the older JPYC token series, separate from the current JPYC deployment, following a recent migration to new contracts across all chains. Supply figures differ across data sources and reporting dates, reflecting the migration and evolving nature of the token's distribution.

Key Specifications & Tokenomics

• Name: JPY Coin v1
• Ticker / Symbol: JPYC
• Category: Stablecoin
• Blockchain / Platform: Ethereum, Polygon, xDai, Gnosis
• Token Standard: ERC-20
• Contract Address (Ethereum, CoinMarketCap): 0x2370f9d504c7a6e775bf6e14b3f12846b594cd53
• Additional Contract (Etherscan): 0xE7C3D8C9a439feDe00D2600032D5dB0Be71C3c29
• Contract Address (Polygon): 0x6ae7dfc73e0dde2aa99ac063dcf7e8a63265108c
• Contract Address (Gnosis): 0x417602f4fbdd471a431ae29fb5fe0a681964c11b
• Explorer: etherscan.io
• Launch Date: January 26, 2021 (CoinMarketCap registry); CoinMarketCap listing date: March 31, 2021
• Issuer: JPYC Inc.
• Official Website: https://jpyc.jp/
• Whitepaper: https://jpyc.jp/white-paper-en.pdf
• Source Code: https://github.com/jpycoin
• Official Announcements: https://medium.com/@jpyc-blog
• Community: https://twitter.com/jpy_coin
• CertiK Rating: 2.5 (as listed on CoinMarketCap; scale not specified in available sources)
• Tags: Stablecoin
• Narratives: Stablecoins

CoinMarketCap lists a circulating supply of 0 for JPY Coin v1, consistent with the recent migration to new contracts across all chains. Supply figures differ across data sources and reporting dates, reflecting the migration and the evolving nature of the v1 token's distribution.

Who created JPY Coin v1?

JPY Coin v1 is issued by JPYC Inc., a Tokyo-based startup that focuses on yen-denominated stablecoin issuance and related financial infrastructure. The company introduced the JPYC stablecoin through its exchange platform, JPYC EX, which maintains a 1:1 ratio with the Japanese yen. JPYC Inc. has positioned itself as a regulated entity operating under Japan's Prepaid Payment Instrument framework. The company's corporate website provides additional information about its operations and leadership. JPYC Inc. has engaged with the broader DeFi ecosystem, including an Aave governance proposal in May 2021 to add support for JPY Coin as a new asset.

How does JPY Coin v1 work?

JPY Coin v1 functions as a price-stable instrument that tracks the Japanese yen at a fixed par value of 1 JPYC to 1 yen. The token is issued as a Prepaid Payment Instrument for Own Business under Japanese law, and it is exchangeable one-to-one with the yen for both issuance and redemption. JPYC maintains its peg through a price maintenance mechanism, which releases users from the price volatility typically associated with cryptocurrencies. According to JPYC Inc., JPYC is fully convertible to the yen and backed by domestic assets. JPYC operates on multiple blockchains, including Ethereum as an ERC-20 token, as well as Polygon, xDai, and Gnosis. The underlying contract source referenced on Etherscan includes AbstractFiatTokenV1.sol, indicating a fiat-token architecture adapted for the Japanese yen. A recent migration moved JPYC to new contracts across all chains, and JPY Coin v1 represents the older token series, which remains separate from the current JPYC deployment.

What makes JPY Coin v1 unique and valuable?

JPY Coin v1 holds a distinctive position as one of the earliest and most established yen-pegged stablecoins. JPYC Inc. describes it as the most well-known Japanese stablecoin and the only one with a strong record of issuance and operation on public chains. JPYC is described by its issuer as one of the earliest yen-pegged stablecoins. The project benefits from Japan's evolving regulatory clarity around stablecoins, which has been cited as a driver for adoption. The token's multi-chain presence across Ethereum, Polygon, xDai, and Gnosis provides flexibility for users and developers. JPYC Inc. positions JPYC as a yen-pegged stablecoin issued and redeemed 1:1 through JPYC EX.

What is JPY Coin v1 used for?

JPY Coin v1 is primarily used as a stable medium of exchange and store of value for users seeking exposure to the Japanese yen within blockchain ecosystems. Its core application is as a yen-pegged stablecoin for payments, transfers, and settlement on public chains. Documented use cases include purchasing NFTs and exchanging crypto assets for goods in the real world. JPYC is also used in decentralized finance, as evidenced by the Aave governance proposal to add support for JPY Coin as a new asset, which would allow users to lend, borrow, and collateralize the token. The token serves as a tool for Japanese businesses and individuals to transact in yen-denominated value on-chain without exposure to cryptocurrency price volatility. JPYC EX, the issuer's exchange platform, facilitates the issuance and redemption of JPYC at a 1:1 ratio with the yen. The token's multi-chain availability enables use across Ethereum, Polygon, xDai, and Gnosis-based applications, including wallets, DeFi protocols, and payment systems.

How Is the JPY Coin v1 ecosystem developing?

The JPY Coin v1 ecosystem is developing against a backdrop of significant regulatory and commercial milestones for yen-pegged stablecoins in Japan. JPYC Inc. issues JPYC through its JPYC EX platform at a 1:1 ratio with the Japanese yen. On the governance front, an Aave governance proposal in May 2021 sought to add support for JPY Coin as a new asset, reflecting early DeFi integration efforts. The migration of JPYC to new contracts across all chains represents a structural evolution of the token's technical infrastructure, with JPY Coin v1 remaining as the older series. Supply figures differ across data sources, and two different Ethereum contract addresses circulate in listings, which can confuse users.

How to mine JPY Coin v1?

JPY Coin v1 is not mined through proof-of-work or proof-of-stake mechanisms. As a stablecoin issued by JPYC Inc., JPYC is minted and redeemed through the issuer's platform, JPYC EX, at a fixed 1:1 ratio with the Japanese yen. There is no mining process, no staking rewards, and no consensus mechanism associated with the token itself. Instead, JPYC is backed by yen-denominated reserves and issued as a Prepaid Payment Instrument under Japanese law. Users acquire JPYC by exchanging yen for the token through the issuer's exchange platform or by purchasing it on supported trading venues. The token's value is maintained through a price maintenance mechanism rather than through mining incentives. Consequently, traditional mining or staking participation is not applicable to JPY Coin v1. Holders seeking yield would need to explore third-party DeFi protocols that may support JPYC as a lending or liquidity asset, though such integrations depend on independent platform decisions.

How to keep your JPY Coin v1 Coin safe?

Keeping JPY Coin v1 safe requires standard cryptocurrency security practices adapted to a stablecoin context. Since JPYC is an ERC-20 token on Ethereum and also exists on Polygon, xDai, and Gnosis, users should store their tokens in wallets that support these networks. Hardware wallets provide the strongest protection against online threats by keeping private keys offline. Software wallets and browser-based wallets are convenient but should be used with caution, including verifying contract addresses before interacting with any token. Users should be aware that JPYC recently migrated to new contracts across all chains, and JPY Coin v1 represents the older token series. Interacting with outdated or unverified contracts carries risk, so users should confirm they are using the correct contract address for their intended network. The CoinMarketCap-listed Ethereum contract address for JPY Coin v1 is 0x2370f9d504c7a6e775bf6e14b3f12846b594cd53. A second address (0xE7C3D8C9a439feDe00D2600032D5dB0Be71C3c29) appears in some listings; users should verify the correct contract before interacting. Users should never share private keys or seed phrases, enable two-factor authentication where available, and be cautious of phishing attempts that mimic official JPYC Inc. communications. Given the issuer's regulatory framework, JPYC holders may also benefit from understanding the redemption process through JPYC EX, which allows conversion back to yen at the fixed 1:1 rate.