TREE NEWS update: JPYC’s issuance and redemption service JPYC EX surpassed ¥10 billion in cumulative issuance as of September 18, with users expanding from individuals to Japanese companies and overseas projects; the figure is cumulative issuance, not current circulating supply. JPYC listed on South Korea’s Upbit on September 17 across KRW, BTC and USDT markets, after which its market price briefly deviated from ¥1.
JPYC EX Cumulative Issuance Tops ¥10B; Token Lists on Upbit
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AI take
The cumulative-issuance milestone matters less than the user shift it reflects: demand is increasingly institutional and cross-border, not just domestic retail. The Upbit listing is the more consequential test — a Korean exchange debut gave the yen stablecoin its first real secondary market, and the brief deviation from ¥1 shows how quickly a pegged instrument can be repriced when liquidity arrives. Whether JPYC EX can keep converting corporate and overseas interest into sustained issuance, rather than one-off listing-driven flows, is the open question.
Generated by AI for reference only.
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