Buy JPY Coin (JPYC)
What is JPY Coin?
JPY Coin (JPYC) is a stablecoin pegged to the Japanese yen. It aims to maintain a 1:1 value ratio with the yen, ensuring price stability. JPYC operates on several public blockchains, including Ethereum, Polygon, Gnosis, Shiden, Avalanche, and Astar. Its primary purpose is to offer a reliable digital currency for various financial transactions, promoting the growth of startups and businesses.
How does JPY Coin work?
JPY Coin functions as a stablecoin issued on multiple public blockchains. It leverages the security and scalability of these platforms, abiding by the ERC-20 token standard, which facilitates compatibility with a wide range of decentralised applications (DApps) and wallets. JPYC utilises smart contracts to manage its issuance and transactions, ensuring it maintains a 1:1 peg with the Japanese yen. The consensus mechanisms of the underlying blockchains, such as Proof of Stake (PoS), provide additional security and efficiency.
What are the potential use cases for JPY Coin?
JPY Coin offers diverse use cases across different sectors:
- E-commerce and Retail Payments: Suitable for everyday shopping and micropayments in digital content industries like anime, manga, games, and movies/TV.
- Cross-Border Payments: Highlighted by initiatives such as Project Pax involving major Japanese banks.
- Decentralised Finance (DeFi): Usable in lending protocols and on decentralised exchanges (DEXs) for trading with other ERC-20 tokens.
- Digital Content and NFTs: Facilitates transactions in the digital art market by buying goods from crypto artists issuing NFTs.
- Regulated Stablecoin: Ensures regulatory compliance, providing a secure financial tool.
What is the history of JPY Coin?
JPY Coin was introduced to address the volatility issues prevalent in other cryptocurrencies by maintaining a stable value pegged to the Japanese yen. It aligns with Japanese financial regulations under the Payment Services Act, ensuring compliance and trustworthiness. JPYC has formed notable partnerships, including collaborations with Japan's largest bank, MUFG, and Progmat, enhancing its use-case scenarios and reinforcing its regulatory credibility.
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Frequently Asked Questions (FAQs)
What is the current price of JPY Coin (JPYC)?
The JPY Coin price is $0.01024933 AUD, representing a +0.45% from the day prior.
Where is the best place to buy JPY Coin (JPYC) in Australia?
The best place to buy JPY Coin (JPYC) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell JPY Coin (JPYC) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of JPY Coin (JPYC)?
The trading volume of JPY Coin (JPYC) is $16.2K AUD in the last 24hrs, representing a +0.45% from the day prior.
How can I buy JPY Coin (JPYC)?
JPY Coin (JPYC) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of JPY Coin (JPYC)?
The current market cap of JPY Coin (JPYC) is $0 AUD.
Can I convert JPY Coin (JPYC) to cash?
Yes - With Coinstash you can convert your JPY Coin (JPYC) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many JPY Coin (JPYC) are there?
The current circulating supply of JPY Coin (JPYC) is 0.
Is Coinstash a safe place to buy JPY Coin (JPYC) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling JPY Coin (JPYC) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.