"What can JPYC be used for?" Issuer JPYC Inc.'s pre-contract disclosure document describes its main uses as "payments and transfers" and "a means of settlement in a wide range of digital applications, being easy to build into smart contracts". About 11 months after its official launch on 27 October 2025, official announcements confirm that cumulative issuance had reached JPY 3 billion and the number of accounts opened had reached 19,000 as of 30 May 2026.
This article groups JPYC's uses into four areas — personal transfers and payments, Web3/DeFi, corporate services, and overseas exchanges — organising only facts confirmed by official announcements from the issuer and its partners. It also covers trading on South Korea's Upbit, which began on 17 September 2026, the same-day temporary suspension of issuance reservations, the support status at MEXC and BingX (both listed on this site), and how to spot fake tokens. It is not price commentary or a recommendation to use any particular service.
JPYC use cases at a glance: "on-chain yen" you can move 24 hours a day while staying yen
JPYC's defining feature is that it holds a one-to-one value with the Japanese yen while being sendable and receivable on four public chains — Ethereum, Avalanche, Polygon and Kaia — regardless of bank business hours. Its uses can be organised as follows.
| Use | What it enables | Confirmed source |
|---|---|---|
| Person-to-person transfers | Sending JPYC between wallets, domestically or abroad, 24/7. Requires the chain's gas fee | Pre-contract disclosure document (main uses) |
| Payments | Paying at stores and services that accept JPYC; payment uses include being built into smart contracts | Pre-contract disclosure document. TIS is targeting full launch of a stablecoin payment support service from autumn 2026 |
| Web3/DeFi | Used as an ERC-20 token on decentralized exchanges and applications; support varies by service | Pre-contract disclosure document (built into smart contracts) |
| Corporate deposits and withdrawals | Linking corporate transfer instructions, balance checks and wallet management with existing systems | Asteria's "JPYC Gateway" (beta from January 2026) |
| Overseas exchanges | Trading began on South Korea's Upbit on 17 September 2026 (against KRW, BTC and USDT); support could not be confirmed at MEXC or BingX | Upbit official notice |
※ "What it enables" describes what is possible given the nature of JPYC as a token; whether any particular store, service or exchange supports it should be confirmed with that operator.
Returns on JPYC's backing assets (yen deposits and government bonds) are revenue for the issuer and are not paid to holders as interest or dividends. The issuer is not covered by deposit insurance either. User funds are protected under the Payment Services Act's performance-bond system, either as a deposit with the Tokyo Legal Affairs Bureau or through a performance-bond trust (pre-contract disclosure document).
How individuals use it: receiving into a wallet, sending and paying
For an individual, using JPYC follows four steps: issue it at JPYC EX → receive it in your own wallet → use it for transfers or payments → redeem it back to yen at JPYC EX once you no longer need it. The steps for issuance and redemption are covered in a separate column.
How to buy JPYC [September 2026]: the JPYC EX issuance steps →
Choosing a wallet
The official FAQ lists three requirements for a wallet to connect to JPYC EX: support for WalletConnect, the ability to add custom tokens, and support for the network you use. It names HashPort Wallet and Unifi as wallets that display JPYC natively. On 13 July 2026, JPYC launched a "JPYC EX Integration API" that connects wallet apps directly to JPYC EX's login, issuance and redemption screens, with integration planned with HashPort Wallet.
What to know before transferring or paying
- Sending costs each chain's gas fee, paid in its native currency such as ETH, AVAX, POL or KAIA — you cannot send with JPYC alone
- A transfer cannot be reversed; mixing up an address or network means losing the assets
- Whether it can be used for payment depends on the store or service; check each operator's own notice that it accepts JPYC
- Issuance and redemption at JPYC EX are capped at ¥1,000,000 per transaction; moving a large amount means managing the number of transactions and their deadlines
Web3, DeFi and corporate services: yen that can be built into a smart contract
Because JPYC is an ERC-20 token, it can be built into decentralized exchanges, lending apps and similar applications as a yen-denominated asset. This is what the issuer means by saying it is "easy to build into smart contracts". However, the issuer does not guarantee which DeFi services support JPYC, so this must be checked service by service. When using an overseas service, the scope of what you take responsibility for widens, including the fact that the operator is not registered with Japan's FSA.
For corporate use, two developments can be confirmed from official announcements. TIS Inc. signed a basic agreement with JPYC Inc. on 31 October 2025 to trial, in spring–summer 2026, a "stablecoin payment support service" that lets businesses adopt JPYC payments without building their own systems, aiming for full launch from autumn 2026 (announced 14 November 2025). Asteria Inc. announced "JPYC Gateway", which handles corporate transfer instructions, balance checks, wallet management and gas-fee payment, and has provided a beta version since 13 January 2026 (announced 18 December 2025).
In an alert dated 28 October 2025, JPYC Inc. states that fake accounts impersonating the company and its representative have been confirmed, and that neither the company nor its representative solicits people to join outside communities such as LINE groups or Discord servers, or directs them to crypto-asset exchange services. Treat any investment solicitation citing JPYC as, by that very fact, unrelated to the official company.
Can you deposit JPYC on an overseas exchange? The Upbit listing (17 September 2026) and the status at MEXC and BingX
Whether you can use JPYC on an overseas crypto exchange depends on whether that exchange supports JPYC deposits, withdrawals and trading pairs. The officially confirmed status as of 18 September 2026 is as follows.
| Exchange | Status | Source |
|---|---|---|
| Upbit (South Korea) | Trading began at 18:00 Korea time on 17 September 2026, across three markets: KRW, BTC and USDT. Deposits and withdrawals are on the Ethereum network only. The start time was pushed back twice, from an initial 12:00 to 15:00 and then to 18:00 | Upbit official notice |
| MEXC | Support for JPYC deposits or spot trading could not be confirmed on the official pages | MEXC official site |
| BingX | Support for JPYC deposits or spot trading could not be confirmed on the official pages | BingX official site |
※ The assets and networks an exchange supports can change. Before sending, always check the deposit screen of the exchange for a listing of "JPYC" and the supported network such as "Ethereum", and do not send if it is not shown. JPYC sent to an exchange that does not support it cannot be recovered.
What happened at JPYC EX on the day of the Upbit listing
According to JPYC EX's official FAQ, JPYC issuance reservations on the Ethereum network were suspended from around 19:15 on 17 September 2026; a 21:30 update added that Polygon issuance reservations were also suspended; a 23:20 update said Ethereum had been restored; and an update at 0:15 on the 18th said Polygon had been restored too. The reason given for the suspension was "investigating the cause", and the issuer said it would provide further information once the details were known. No suspension was announced for issuance on Avalanche or Kaia, or for redemption.
1 JPYC = ¥1 is guaranteed only for issuance and redemption by the issuer (JPYC EX). Because an exchange's trading price is set by supply and demand, it can settle away from ¥1 when liquidity is thin, such as right after a listing. Upbit's own notice states that buy orders were restricted for about the first five minutes of trading and only limit orders were allowed for about two hours. Even JPYC bought above ¥1, if redeemed at JPYC EX, is paid out at ¥1 per JPYC.
Steps to check before using it on an overseas exchange
- 01Check the exchange's deposit screen for JPYC and the supported network
Confirm that "JPYC" appears in the asset list and that you can select the network you plan to send on, such as Ethereum. If it is not shown, the exchange does not support it.
- 02Verify the contract address
Confirm that the JPYC contract address the exchange states matches the official one (0xE7C3D8C9a439feDe00D2600032D5dB0Be71C3c29). Upbit's own notice states this same address.
- 03Test with a small amount
Test with an amount close to the minimum (¥3,000): confirm sending, crediting and withdrawal once before increasing the amount.
- 04Keep records for tax purposes
Exchanging JPYC for a crypto asset or USDT locks in the gain or loss on the crypto-asset side at that moment. Save your transaction history and decide in advance how you will convert amounts to yen.
JPYC and your tax return: what happens when you exchange it for crypto →
Frequently asked questions
Q. What can JPYC be used for?
A. The issuer's pre-contract disclosure document lists its main uses as "payments and transfers" and "a means of settlement in digital applications built with smart contracts". Official announcements confirm individuals using it for wallet-to-wallet transfers and payments at supporting stores and services, and businesses moving toward uses such as TIS's payment support service (targeting full launch from autumn 2026) and Asteria's "JPYC Gateway" for deposit and withdrawal management.
Q. Can I use JPYC at convenience stores or other shops?
A. That depends on whether the store or service itself supports JPYC payments. As of 18 September 2026 the issuer's official materials do not list stores where it can be used, and TIS's stablecoin payment support service is targeting full launch from autumn 2026. Check individually with the notice of any store or service you want to use.
Q. Can I deposit JPYC on an overseas exchange?
A. It differs by exchange. South Korea's Upbit began trading against KRW, BTC and USDT on 17 September 2026, with deposits and withdrawals on Ethereum only. This site could not confirm support for JPYC deposits or trading on the official pages of MEXC or BingX (both listed here) as of 18 September 2026. Sending to an exchange that does not support it means losing the asset.
Q. Why did JPYC issuance stop when it was listed on Upbit?
A. According to JPYC EX's official FAQ, issuance reservations on Ethereum were suspended from around 19:15 on 17 September 2026 "to investigate the cause", with an update at 21:30 the same day adding Polygon. Ethereum was restored at 23:20 the same day and Polygon at 0:15 on the 18th, per the FAQ updates. The issuer said it would provide details once known.
Q. Does simply holding JPYC earn interest?
A. No. Returns on the backing assets (yen deposits and government bonds) belong to the issuer and are not paid out to holders. JPYC is not a deposit and is not covered by deposit insurance; user funds are protected under the Payment Services Act's performance-bond system (a deposit with the legal affairs bureau or a trust).
Q. Is DeFi that uses JPYC safe?
A. The issuer guarantees only JPYC's own redemption at ¥1; it does not guarantee the safety of any DeFi service or DEX where you deposit JPYC. Overseas services are not registered with Japan's FSA, and users bear the risk of smart-contract bugs or operator failure. Test with a small amount and verify the contract before using a service.
Sources
- JPYC Inc. | Pre-contract disclosure document (funds-transfer business) (PDF: limits, fees, performance bond, supported chains; Japanese) →
- JPYC Inc. | Official launch of the yen stablecoin "JPYC" and "JPYC EX" (24 October 2025, PR TIMES) (Japanese) →
- JPYC Inc. | JPYC EX surpasses 19,000 cumulative accounts and JPY 3 billion in cumulative issuance (2 June 2026, PR TIMES) (Japanese) →
- JPYC Inc. | Launch of the "JPYC EX Integration API" (13 July 2026, PR TIMES) (Japanese) →
- JPYC EX FAQ | Criteria for wallets that work with JPYC EX (updated 22 May 2026) (Japanese) →
- JPYC EX FAQ | Notice: status of the temporary suspension of JPYC issuance reservations (updated 17-18 September 2026) (Japanese) →
- JPYC Inc. | Warning about fake token (counterfeit JPYC) trading and fake social media accounts (28 October 2025) (Japanese) →
- Upbit | Notice of new trading support for PYUSD and JPYC (KRW, BTC and USDT markets, 17 September 2026) (Korean) →
- TIS Inc. | Basic agreement with JPYC Inc. toward the social implementation of stablecoin payments (14 November 2025) (Japanese) →
- Asteria Inc. | Announcement of "JPYC Gateway", a corporate JPYC deposit/withdrawal management service (18 December 2025) (Japanese) →
- JPYC Inc. | JPYC EX official site (Japanese) →
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