According to Deep Tide TechFlow news on August 17, as reported by Jin10, the Japanese Financial Services Agency will approve the country's first issuance of a stablecoin denominated in yen, JPYC, this month. The Financial Services Agency will register the fintech company JPYC Inc. as a money transfer business, and sales are expected to begin within weeks after registration. This digital money will be backed by liquid assets such as government bonds to maintain its value stable at 1 JPYC = 1 yen.

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