TOKYO, July 4, 2022 /PRNewswire/ — On July 1, 2022, Tokyo local time, compliant JPY-based Stablecoin JPY World (JPYW) announced officially that it has reached an ecosystem co-construction and cooperation in transactions with the Japanese blockchain game —— Mechaverse. According to the official Twitter of Mechaverse, the two parties will explore and implement various aspects, such as the settlement, payment, liquidity injection, and staking derivatives of JPY-based Stablecoin in Mechaverse. Finally, it will achieve the goal of increasing number of users, creating a well-known animation IP image, and making it convenient to enter the Web3.0 metaverse.
JPYW is a prepaid token launched by PassPay that can be purchased and used on the official website of PassPay at a price of 1 YEN = 1 JPYW. JPYW ensures a 1:1 anchor with the YEN in the form of margin. As a compliant JPY-based stablecoin under the “Revision of Funding Resolution Act”, it has become the only blockchain stablecoin that is certified and licensed by the government of Japan. Meanwhile, the company has also finished submitting the application and the deposit for “issuer of prepaid payment method (internal)” to the government.
As the first Japanese mecha blockchain game of Mechaverse Labs, Mechaverse combines high-quality Japanese animation IP and playable blockchain games based on the Web3 operating platform and solution, as well as exploring the value of NFT and constructing the entrance to metaverse of Japanese anime mecha through GameFi’s feature of linking values.
This cooperation is seen as a bridge between the traditional Japanese market and the Crypto world which drives a new flow and value into the crypto world.
Why is JPYW the “only child” of the stablecoin?
With the strict filing and review mechanism of “Funding Resolution Act” in Japan, only JPY-based Stablecoin can operate legally after obtaining approval, which also prevents other types of stablecoins from entering the Japanese crypto…
