"Japan's Payment Services Act, revised in June 2023, created the world's strictest stablecoin issuer rules, classifying fiat-pegged stablecoins as Electronic Payment Instruments and establishing a three-tiered issuer model."
"As of April 2026, stablecoins in Japan are not a retail product; they are part of national financial infrastructure, with commercial banks, trust companies, and licensed fund transfer providers each able to issue stablecoins under strict reserve requirements."
"JPYC Inc. became the world's first issuer of a fully regulated yen-pegged stablecoin in October 2025, graduating to a licensed Electronic Payment Instrument under a Type II funds transfer license."
Japan's Payment Services Act was revised in June 2023, classifying fiat-pegged stablecoins as Electronic Payment Instruments. The act established a three-tiered issuer model involving commercial banks, trust companies, and licensed fund transfer providers, each with strict reserve requirements. By April 2026, stablecoins in Japan will not be retail products but part of national financial infrastructure. JPYC became the first fully regulated yen-pegged stablecoin in October 2025, with a target of 10 trillion yen in circulation over three years, followed by JPYSC from SBI Holdings.
Read at news.bitcoin.com
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