According to Wu, the Japanese yen stablecoin issuer JPYC announced the completion of its registration as a funds transfer business operator. The Japanese yen stablecoin is planned to be deployed on Ethereum, Avalanche, and Polygon. On November 10, 2021, JPYC completed a Series A funding round of 500 million yen (approximately 4.43 million USD), led by Headline Asia and with participation from Circle Ventures.

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