JPY Coin wallet

What is JPY Coin (JPYC)?

A yen that lives on a public blockchain: that is the whole idea of JPY Coin (JPYC). One JPYC is pegged to one Japanese yen, and the issuer, a Japanese company operating under Japan's payment services rules, holds yen deposits and Japanese government bonds against the tokens in circulation. Issuance and redemption back to yen go through the issuer's own platform, JPYC EX, after identity verification; on the chain itself the token moves like any other ERC-20.

One ticker, two generations

There is a detail worth checking before you send or receive JPYC. The original token was a prepaid payment instrument under Japanese law, which meant it could be spent but not cashed back out into yen. The current JPYC is a different asset with different contracts: an electronic payment instrument that is redeemable one to one. The older token continues to exist under the name JPYC Prepaid. Both show the yen symbol and a similar name, so when someone gives you an address or a contract to import, make sure it is the redeemable one.

JPYC is issued on several EVM chains, and the token is the same asset on each of them, but a balance on one chain is not a balance on another. Fees are paid in the native coin of the chain you are using, so a JPYC balance on its own cannot move; you need ETH, POL or AVAX next to it.

Supported networks in Tangem (3): Ethereum, Avalanche, Polygon POS. In the Tangem app, JPYC on each of those chains is its own line with its own balance and its own gas coin, and you choose the line you are sending from every time. That is exactly the habit a multi-chain yen token asks of its holder, and a wallet that makes the choice visible is the right home for it.