Japan’s stable coin JPYC relaxes purchase amount limit
The operator of JPYC, a stable coin linked to the Japanese yen, has lowered its minimum purchase amount and its redemption amount for gift certificates.
The minimum purchase amount was reduced from 10,000 JPYC to 3,000 JPYC, and the redemption amount for gift certificates was lowered from 5,000 JPYC per unit to 100 JPYC units, its operator JPYC said.
JPYC is the country’s first prepaid stable coin that utilizes blockchain technology. It supports Ethereum, Polygon, Gnosis, Shiden Network, Astar Network and Avalanche. It can also be used to buy “V-preca Gifts,” prepaid gifts that can be used at VISA member stores and cashless payment services such as PayPay.
In addition to the price reduction, the processing time to purchase JPYC has also been shortened to as quick as 10 minutes.
A fee charged for using Polygon while purchasing the stable coin will be reduced from 0.1 MATIC to 0.05 MATIC.
In August, JPYC applied for a third-party license that will allow it to expand its networks, in an effort to improve its status as a payment method.