Convertible JPY Token (CJPY) — price, overview & secure storage
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Last Updated on Jun 14, 2026 02:42 PM
What is Convertible JPY Token? Complete guide to CJPY
What is Convertible JPY Token and who created it?
CJPY represents a collateral debt position issued on Yamato Protocol, a decentralized and custodial/">non-custodial platform on Ethereum developed by DeFiGeek Community Japan. It serves as an ETH overcollateralized stablecoin designed to maintain a peg to the Japanese Yen. The Yamato protocol plans to expand to include various tokens as collateral and introduce a range of fiat stablecoins, initially including USD and EUR pegs.
Key features of Convertible JPY Token blockchain
Yamato Protocol distinguishes itself through five attributes as a decentralized and non-custodial crypto overcollateralized stablecoin:
- High Collateral Factor: The protocol permits a minimum health rate of 130%, ensuring efficient use of collateral.
- Absence of Accrued Interest: Users are subject solely to a one-time issuance fee upon generating CJPY.
- Non-Forced Liquidation: No penalty for liquidation. Debt positions with health rates below 130% can be redeemed by any users via CJPY acquired from the market.
- Redemption by protocol: Accrued CJPY fees on protocol can be used to redeem debt positions under threshold.
- Subrogation Mechanism: The protocol employs the accumulated CJPY fees to subrogate debt positions falling below the 100% health rate threshold.
How Convertible JPY Token transactions work
The project began in January 2021, with the DeFiGeek Community Japan developing the Yamato Protocol. The community has been inclusive, welcoming developers and contributors eager to enhance DeFi applications and tools for advancing Web3 technology. Key milestones include the alpha testing phase in November 2021, beta testing in January 2022, and the launch of version 1 on the Ethereum mainnet in July 2023. Future plans include introducing a DAO utility token and enabling the issuance of additional stablecoins like CEUR and CUSD. CJPY is anticipated to be adopted across various DeFi Dapps, including DEX and lending protocols, and holds potential as a payment medium within the Japanese crypto business ecosystem.
Wallet for Convertible JPY Token
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Tangem supports networks for Convertible JPY Token
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Similar cryptocurrencies to Convertible JPY Token (CJPY)
| Asset | 24h % | Market cap | |
|---|---|---|---|
 BitcoinBTC | $63,912.15 | -0.37% | $1.28T |
 EthereumETH | $1,656.08 | -1.33% | $0.20T |
 TetherUSDT | $0.9995 | 0.02% | $0.19T |
 BNBBNB | $607.52 | -0.07% | $81.99B |
 USDCUSDC | $0.9998 | 0.00% | $74.81B |
Frequently asked questions about Convertible JPY Token (CJPY)
- Convertible JPY Token is a cryptocurrency built on a decentralized network, enabling secure and transparent transactions. Its blockchain design supports various use cases depending on the project’s goals.
- Its main advantages include speed, accessibility, and compatibility with decentralized tools. The network is optimized to handle different types of operations.
- Yes. CJPY is the trading symbol used to identify Convertible JPY Token on exchanges and charts.
- You can buy Convertible JPY Token from platforms offering card payments, bank transfers, or swaps. After buying, store it safely in a non-custodial wallet.
- Store Convertible JPY Token in a non-custodial wallet where you control your keys. Tangem hardware wallets offer strong offline security.
- "Binanceis one of the largest and most well-known cryptocurrency exchanges in the world, offering a comprehensive range of trading options and features. For Japanese traders, Binance provides a highly versatile platform that supports a vast selection of cryptocurrencies and offers competitive fees.
- JPY Coin (JPYC)emerged as a significant player in the stablecoin market, particularly within Japan. Launched in January 2021, JPYC is pegged to the Japanese Yen at a 1:1 ratio, making it a stablecoin designed to facilitate seamless transactions in the cryptocurrency world while adhering to Japanese regulations.
How to store Convertible JPY Token securely with a hardware wallet
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