[NEWS] JPYC to consider business partnership with Unidos, an international remittance service provider, to issue new stablecoins

On the 8th, JPYC, which develops the Japanese yen stablecoin "JPYC," announced that it has begun considering a business partnership with Unidos, which operates the international remittance service "Kyodai Remittance."

In this initiative, the company aims to issue Japan's first stablecoin for electronic payment instruments for the money transfer industry.

Until now, JPYC has been issued as a prepaid payment instrument linked to 1 JPYC = 1 yen, and has been used by many users. Now, the stablecoin that is a new electronic payment instrument for the money transfer industry will be redeemable for Japanese yen by all users.

This will not only improve convenience, but also improve the stability and reliability of digital assets, and is expected to increase the number of users. In terms of security measures and technology, JPYC will utilize the technology it has cultivated in its stablecoin issuance and operation business to aim to comply with Centre.io, the global standard for stablecoins, just like the previous JPYC.

Specifically, the block list function that blocks illegal addresses, the upgrade function to deal with vulnerabilities, and smart contracts to combat money laundering and terrorist financing will achieve the world's highest level of safety and robustness.

JPC said in the announcement, "When considering a new stablecoin, the basic principle that it should be operated on a public chain and be a globally unified standard has a very high synergy with overseas remittances, and we believe that this business alliance will bring about a major revolution."

Unidos provides services in over 200 countries and regions

Kyodai Remittance is an overseas remittance service launched by Unidos in June 2010, mainly targeting foreign residents in Japan to send money to their hometowns. It accepts overseas remittances using overseas remittance cards and apps that can be used at Unidos stores, Japan Post Bank, and Lawson Bank ATMs. Remittances can be made to over 200 countries and regions in as little as 10 minutes with low fees.

It responds to the remittance needs of foreigners working in Japan in multiple languages, and meets the small remittance needs of individuals and corporations nationwide, and as of November last year, the cumulative number of remittances handled has grown to more than 5.6 million.

Reference:Announcement
Image: Quoted from the announcement

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