The Kaia DLT Foundation has launched the Japanese yen-pegged stablecoin JPYC on its blockchain. This move aims to facilitate cross-border remittances and settlements across Asia.
JPYC's Strategic Launch
The integration aims to expand user access and secure global liquidity in markets with rising demand for yen-pegged stablecoins.
Joint Corporate Statement
The launch follows JPYC Inc. obtaining its Japanese fund transfer license in August 2025. With this launch, the Kaia network targets markets including South Korea, Indonesia, Thailand, and Taiwan.
Kaia is an Ethereum Virtual Machine-compatible Layer 1 blockchain, formed from a merger of Kakao’s Klaytn and LINE’s Finschia networks, boasting a combined user base of over 250 million.
Updates to Issuance Parameters
In alignment with the blockchain launch, JPYC Inc. adjusted its issuance limits. The daily cap was modified to 1 million yen per transaction, while adhering to Japan's Payment Services Act.
- Active accounts surpassed 18,000 as of May 2026.
- Cumulative issuance reached 2.5 billion yen.
- Total trading volume exceeded 35 billion yen.
Beginning May 22, 2026, LINE NEXT will support JPYC on its Unifi wallet, allowing users to store the asset without additional apps.
KB Financial Group's Won Stablecoin Pilot
KB Financial completed a pilot program testing a South Korean won stablecoin on the Kaia network.
Kaia Spokesperson
The pilot, conducted by KB Financial Group, KG Inicis, and OpenAsset, focused on offline payments and global remittances. The trial showed that the won stablecoin could be converted into a U.S. dollar stablecoin for transfers.
During the test, a transaction from South Korea to Vietnam took less than three minutes, reducing fees by 87% compared to traditional methods.
Future Regulatory Landscape
The pilot included offline payments at Hollys coffee shops in Seoul, where transactions were completed via QR codes. KB Financial plans to introduce commercial stablecoin services pending regulations in South Korea.
Discussion regarding South Korea's Digital Asset Basic Act remains stalled due to jurisdictional issues between the Bank of Korea and the Financial Services Commission. Legislative progress is expected to resume post-local elections in June.