According to Odaily Planet Daily, the Japanese Financial Services Agency will approve the issuance of a yen-denominated stablecoin called "JPYC" by Japanese fintech company JPYC as early as this fall. Individual, corporate, and institutional investors can apply to purchase JPYC and transfer payment, and the JPYC will be transferred to their electronic wallets. In addition to international transfers such as remittances to overseas students, JPYC can also be used for corporate payments and blockchain asset management services known as decentralized finance (DeFi). JPYC aims to issue 1 trillion yen over the next three years, and several institutions, including hedge funds investing in virtual currencies and family offices managing the assets of wealthy individuals, have expressed interest. These institutions reportedly envision using JPYC in "carry trades" aimed at profiting from interest rate differentials. (Nikkei Chinese website)