Japanese yen stablecoins
2 Japanese yen stablecoins from 2 issuers on 4 chains. Supply is $149.60M (23.58B JPY), −1.0% in 30 days.
- Supply
- $149.60M
- −$1.55M (-1.0%) in 30 days
- Trading volume
- $20.10M
- DEX pools, last 30 days.
- Transfer volume
- $59.84M
- Sep 2026, full month
- Active addresses
- 10.2K
- Sep 2026, full month
Monthly supply
Total · USD · today's trading price when there is one, otherwise today's FX rate
Rules and regulation
Rules in place · Licensed stablecoin live: yes · Japan
What it means
Yen stablecoins are legal, but only licensed banks, trusts and funds-transfer providers can issue them.
Rules today
Since 1 Jun 2023, yen stablecoins are e-payment instruments. Only banks, trusts or funds-transfer providers may issue them. JPYC started Oct 2025. Since Jun 2026, trust-type coins need ≥50% demand deposits.
Next change
Not published
Sources
- FSA – 2025 Payment Services Act amendment: cabinet orders published, in force 1 Jun 2026 (22 May 2026) ↗
- JPYC – Funds-transfer provider registration (18 Aug 2025, PR Times) ↗
- FSA – Bills submitted to the Diet (FIEA/PSA amendment passed 15 Jul 2026) ↗
- Nagashima Ohno & Tsunematsu – Outline of the 2026 FIEA/PSA crypto bill (Apr 2026, secondary) ↗
- MCB FinTech Catalog (Monex) – Backing-asset rules for electronic payment instruments, 50% demand-deposit floor (secondary) ↗
As of 4 Oct 2026. Not legal advice.
Stablecoins and chains
FAQ
What counts as a JPY stablecoin here?
A stablecoin designed to track one JPY, issued onchain. USD stablecoins are not tracked. A stablecoin is listed under one currency only: the one it is pegged to.
How is supply measured?
We read totalSupply onchain from each chain and leave out wallets the issuer names as not issued yet or waiting to be burned. Bridged copies count once. We compare the total with DefiLlama. If the two differ by more than 10%, the page raises an alert and still shows our read, unless we cannot yet name the unissued or treasury balance behind the gap. Then the alert stays and the figure shown is DefiLlama's. A missing or failed chain read also shows DefiLlama's figure. Methodology →
Are bridged copies counted?
Bridged copies of a stablecoin are left out of supply totals, so the same coins are not counted twice. Their contracts are still listed on the stablecoin's page, marked “Bridged, not counted in supply”. Methodology →
Which chains have no past supply reads?
We read today's supply on Algorand, Noble, Hedera and ICP onchain, but not past supply there. Charts use DefiLlama's series for these chains where it has one; where it doesn't, the chart leaves that chain out or shows it as “Chain unknown”. Contracts on these chains are still listed, with a link to the chain's block explorer. Which stablecoins this affects is in each issuer's FAQ. Methodology →
How are USD values calculated?
Supply valued at each stablecoin's trading price, or at the reference FX rate where none exists. Methodology →
Why are changes shown in the stablecoin's own currency?
A 30-day change compares supply in the stablecoin's own currency, so a move in the dollar exchange rate doesn't show up as growth or decline.
How do I mint or redeem these stablecoins?
It depends on the issuer: some let individuals mint by bank transfer, and some only onboard businesses. Each stablecoin page lists who can mint, how to redeem and the local payment rails, with sources. Example: JPYSC →
How often is the data updated?
About once a day, at a time that varies. Each refresh must pass automated checks before it is published. The last update time is in the footer. Methodology →