Startale CEO and Astar Network founder Sota Watanabe announced on the X platform that they plan to launch the first bank-backed Japanese Yen stablecoin, JPYC, within the next few months. Watanabe pointed out that the project's goal is to utilize the world's lowest-cost financing currency—the Japanese Yen—by investing in high-growth assets (such as U.S. stocks) through fully on-chain execution. In March this year, Startale Labs announced the completion of a $63 million Series A funding round, led by Sony Innovation Fund, with participation from Asian industry and financial giants such as Samsung Next, UOB Venture Management, and SBI Holdings.