JPY Coin v1

JPYC Price

About JPYC (JPYC)

JPYC is a Japanese Yen-pegged stablecoin issued on multiple public blockchains to facilitate digital payments and value transfer.

• The token maintains a 1:1 value parity with the Japanese Yen, allowing users to hold a digital representation of the currency.
• JPYC is classified as a prepaid payment instrument under Japanese legal frameworks, distinguishing it from traditional cryptocurrencies.
• It operates as a multi-chain asset, supported on networks including Ethereum, Polygon, and Gnosis Chain.

What Is JPYC

JPYC is a digital asset designed to provide the stability of the Japanese Yen within the blockchain ecosystem. Its primary value proposition is enabling users to transact and store value without the price volatility typical of non-pegged cryptocurrencies.

Value moves through the system when users purchase JPYC with fiat currency or trade for it on secondary markets. The token can then be used within the JPYC Apps ecosystem to acquire goods or exchange for other digital assets. Users "put the token to work" primarily as a medium of exchange and a stable unit of account. It can be exchanged for real-world purchasing power through integrations with prepaid Visa cards and other gift card services.

As the ecosystem grows, JPYC scales by expanding its multi-chain availability and increasing its integration with decentralized finance (DeFi) protocols and merchant payment gateways. The project has also initiated a migration from its original v1 token to a v2 version to align with updated Japanese electronic payment regulations.

What Makes JPYC Unique

• Regulatory Classification: Unlike many global stablecoins, JPYC is structured as a prepaid payment instrument in Japan, providing a specific legal status for domestic users and businesses.
• Multi-chain Native: JPYC is natively issued across several prominent blockchain networks, reducing bridging friction and allowing users to choose their preferred infrastructure.
• Real-world Integration: Through its native application suite, users can directly exchange JPYC for V-Preca gift cards, enabling the token to be used at millions of Visa-accepting merchants worldwide.

What Can You Use JPYC for?

The asset is pegged to the Japanese Yen.

• Value retention: JPYC 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 fiat-backed alternative.
• Yield generation: The source does not specify native yield options or sovereign debt-related rewards for JPYC v1. Users may participate in decentralized lending or liquidity provisioning on third-party DeFi platforms where JPYC is supported.
• Cross-border settlement / value transfer: JPYC enables international value transfer and global trade by allowing frictionless movement of Japanese Yen value across borders via blockchain technology.
• Collateralization: JPYC can be used as backing for borrowing and lending protocols or as margin for derivatives on decentralized exchanges, as supported by its multi-chain presence.

How Does JPYC Work?

JPYC is issued as an ERC-20 token, a standard for creating fungible tokens on blockchain networks. The issuance mechanism involves backing the circulating supply with cash, deposits, and short-term government bonds to ensure the peg is maintained.

The project utilizes a multi-chain strategy, deploying smart contracts on networks such as Polygon, Gnosis Chain, and Shiden to offer lower transaction costs and faster settlement. JPYC does not serve as a network gas token. Instead, it is an application utility token where fees are handled by the underlying blockchain's native asset, while JPYC itself is used for value transfer and payments.

Team Info and Investors

The project is associated with JPYC Inc. (formerly IPIE), a Japanese company focused on blockchain-based payment solutions. Notable backing includes participation from Circle Ventures, the venture capital arm of the issuer of USDC. The source does not specify individual founder names or a detailed governance structure for the v1 token.

Where can you buy JPY Coin v1?

JPYC tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade JPY Coin v1 is Quickswap, where the most active trading pair JPYC/USDC.E has a trading volume of $142.47 in the last 24 hours. Other popular options include Uniswap V3 (Ethereum) and Sushiswap (Polygon POS).

What is the daily trading volume of JPY Coin v1 (JPYC)?

The trading volume of JPY Coin v1 (JPYC) is $322.98 in the last 24 hours, representing a -95.60% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for JPY Coin v1 (JPYC)?

JPY Coin v1 (JPYC) reached an all-time high of $0.01944 and an all-time low of $0.0002071. It’s now trading -59.20% below that peak and 3,731.30% above its lowest price.

What is the market cap of JPY Coin v1 (JPYC)?

Market capitalization of JPY Coin v1 (JPYC) is $19,581,902 and is ranked #904 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of JPYC tokens (2.5 Billion tokens are tradable on the market today).

What is the fully diluted valuation of JPY Coin v1 (JPYC)?

The fully diluted valuation (FDV) of JPY Coin v1 (JPYC) is $19,581,902. This is a statistical representation of the maximum market cap, assuming total number of 2.5 Billion ETH tokens are in circulation today.

How does the price performance of JPY Coin v1 compare against its peers?

With a price decline of -15.60% in the last 7 days, JPY Coin v1 (JPYC) is underperforming the global cryptocurrency market which is up 12.80%, while underperforming when compared to similar Stablecoins cryptocurrencies which are up 0.70%.

How to add JPY Coin v1 (JPYC) to MetaMask?

Adding JPY Coin v1 (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 (0x2370f9d504c7a6e775bf6e14b3f12846b594cd53) 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.