JPY Coin

JPYC Price

About JPY Coin (JPYC)

JPY Coin (JPYC) is a Japanese Yen-pegged stablecoin that functions as a prepaid payment instrument on multiple public blockchains.

• It is designed to maintain a 1:1 value with the Japanese Yen (JPY) and is categorized under Japanese law as a prepaid payment instrument.
• The token is available on several major networks, including Ethereum, Polygon, and Avalanche, enabling broad accessibility for decentralized applications.
• Users can utilize JPYC for various real-world applications, such as exchanging tokens for gift cards and using them within the JPYC Apps ecosystem.

What Is JPY Coin

JPY Coin is a digital asset designed to track the value of the Japanese Yen on-chain. It serves as a bridge between traditional Japanese fiat currency and the decentralized finance ecosystem. Value moves through the system as users purchase JPYC with fiat or other assets and then use it for payments or within supported decentralized applications.

The token is put to work primarily as a medium of exchange and a unit of account. It allows users to hold Yen-denominated value on-chain without direct exposure to the volatility of other cryptocurrencies. As the ecosystem grows, JPYC scales by expanding its presence across multiple blockchain networks and increasing its integration with real-world payment services and merchant networks.

What Makes JPY Coin Unique

• Legal Classification: Unlike many stablecoins, JPYC is specifically structured to comply with Japanese regulations as a prepaid payment instrument rather than a typical cryptocurrency asset.
• Multi-chain Availability: JPYC is natively issued on a diverse set of networks, including Ethereum, Polygon, Gnosis, Shiden, Avalanche, and Astar, reducing fragmentation for users.
• Real-world Liquidity: The project provides a direct pathway for users to spend their digital assets on physical goods and services by exchanging JPYC for popular gift cards like V-Preca.

What Can You Use JPY Coin for?

JPY Coin is pegged to the Japanese Yen.

1. Value retention: The asset allows users to hold a digital, on-chain representation of the Japanese Yen, which may reduce exposure to crypto-market volatility by providing a stable-value alternative.
2. Yield generation: The source does not specify native yield options for JPYC; however, users may be able to utilize the token in decentralized lending or liquidity provisioning protocols where supported.
3. Cross-border settlement / value transfer: JPYC enables the international transfer of Japanese Yen value via public blockchains, facilitating frictionless value movement across borders as supported by the underlying network infrastructure.
4. Collateralization: The source does not specify direct collateral use for JPYC, but its ERC-20 standard allows for potential integration into borrowing and lending protocols as a stable asset.

How Does JPY Coin Work?

JPYC operates as an ERC-20 token on various public blockchains. Its mechanism relies on a prepaid model where the issuer holds reserves of Japanese Yen or cash equivalents to back the circulating supply. The token utilizes smart contracts to manage issuance and transfers. On networks like Polygon, it functions as an application utility token, and users must pay protocol service fees in the network's native asset to process transactions.

Team Info and Investors

JPYC is developed by JPYC Inc. The project has established itself as a prominent player in the Japanese blockchain space, focusing on regulatory compliance and practical utility. While specific lists of early investors were not detailed in the primary source material, the project is known for its integration with various Japanese payment ecosystems and gift card providers.

Where can you buy JPY Coin?

JPYC tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade JPY Coin is Quickswap, where the most active trading pair JPYC/USDC.E has a trading volume of $4,568.34 in the last 24 hours. Other popular options include Uniswap V3 (Ethereum) and Uniswap V3 (Polygon).

What is the daily trading volume of JPY Coin (JPYC)?

The trading volume of JPY Coin (JPYC) is $7,598.16 in the last 24 hours, representing a 455.20% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for JPY Coin (JPYC)?

JPY Coin (JPYC) reached an all-time high of $0.07963 and an all-time low of $0.0009003. It’s now trading -88.40% below that peak and 927.80% above its lowest price.

What is the market cap of JPY Coin (JPYC)?

Market capitalization of JPY Coin (JPYC) is $23,571,422 and is ranked #824 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of JPYC tokens (2.6 Billion tokens are tradable on the market today).

What is the fully diluted valuation of JPY Coin (JPYC)?

The fully diluted valuation (FDV) of JPY Coin (JPYC) is $23,571,422. This is a statistical representation of the maximum market cap, assuming total number of 2.6 Billion ETH tokens are in circulation today.

How does the price performance of JPY Coin compare against its peers?

With a price increase of 25.10% in the last 7 days, JPY Coin (JPYC) is outperforming the global cryptocurrency market which is up 9.70%, while outperforming when compared to similar Stablecoins cryptocurrencies which are up 0.80%.

How to add JPY Coin (JPYC) to MetaMask?

Adding JPY Coin (JPYC) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import JPYC as a token. You can copy JPYC’s contract address (0x431d5dff03120afa4bdf332c61a6e1766ef37bdb) and import it manually, or if you've installed MetaMask's chrome extension, add JPYC to MetaMask with one click on CoinGecko.

Add JPYC to MetaMask.