Circle’s New VC Fund Backs $4.4M Round for Japanese Yen-Pegged Stablecoin Issuer

Posted on by American Coins & Gold

Circle’s New VC Fund Backs .4M Round for Japanese Yen-Pegged Stablecoin Issuer
JPYC, the issuer of a Japanese yen-pegged stablecoin, has raised ¥500 million (about $4.43 million) in a Series A round led by Headline Asia with participation from Circle’s Circle Ventures fund in the latter’s initial capital deployment.Tokyo-based JPYC issues the stablecoin as a prepaid payment instrument in Japan. The company plans to use the funding round to strengthen its position as a JPYC issuer, improve operation and development capabilities and acquire prepaid payment instruments for third-party businesses.“Headline Asia is confident that the era of Web 3.0, built on blockchain technology and the token economy, is coming. Meanwhile, we are concerned…