Summary
If we are to talk about Japan's domestic crypto asset market today, we have to start with JPYC. The news that its cumulative issuance has surpassed 10 billion yen carries more significance than a mere milestone in numbers. This figure proves that yen-denominated stablecoins are moving from the “experimental stage” to becoming “a foundation for real-world demand.” It is fair to say this is the moment JPYC, which has quietly spread behind the scenes of remittances and payments, has finally reached a scale that the general public can see.
Details
Following JPYC's rise, the SBI Group is making moves on several fronts. SBI Securities announced its “Investment Day” campaign and new measures related to the children's NISA program, showing an effort to raise interest in investing overall, not just in crypto assets. Furthermore, its group company SBI VC Trade began offering a yen-denominated stablecoin, a first in Japan, while simultaneously rolling out measures for corporate clients. As a result, it has quickly drawn attention as a player on par with JPYC. The battle for leadership in stablecoins is no longer just a matter for startups; it is evolving into a full-scale industry restructuring that involves major securities firms. On the exchange front, bitFlyer maintained its first place in Bitcoin trading volume in Japan through the first half of 2026, demonstrating its solid position. In terms of information, CoinPost has continued to engage readers with a late-September market analysis article and an announcement for an event scheduled for October, strengthening its presence as an industry media outlet. In the context of payment services, au Coincheck Digital Assets' launch of a crypto asset wallet usable within “au PAY” drew significant attention. The integration of crypto assets into a mobile carrier's economic zone is a development that rapidly narrows the distance to everyday consumers. HashPort supported the foundation of this wallet, once again highlighting the importance of Web3 infrastructure companies working behind the scenes. Additionally, MIZUHIKI: The Japan Chain announced a major pivot toward a stablecoin infrastructure compliant with Japanese regulations, drawing notice as an example of an overseas-born project changing course to match the regulatory environment of the Japanese market. The international outlet CoinDesk continues to be widely read as a major news source in the Japanese-speaking world, and Coincheck has been named as a leading exchange in several comparison articles, remaining a strong candidate for new users as of October.
- 1The news that its cumulative issuance has surpassed 10 billion yen carries more significance than a mere milestone in numbers.
- 2On the exchange front, bitFlyer maintained its first place in Bitcoin trading volume in Japan through the first half of 2026, demonstrating its solid position.
- 3HashPort supported the foundation of this wallet, once again highlighting the importance of Web3 infrastructure companies working behind the scenes.
- 4If we are to talk about Japan's domestic crypto asset market today, we have to start with JPYC.
- 5Following JPYC's rise, the SBI Group is making moves on several fronts.
Conclusion
Looking at the big picture, today's crypto asset market is moving along two axes: “the battle for stablecoin supremacy” and “existing players expanding their economic zones.” While JPYC and SBI VC Trade compete for leadership in yen-denominated stablecoins, the au economic zone and carrier partnerships are broadening their reach. Meanwhile, established exchanges such as bitFlyer and Coincheck are steadily strengthening their user bases. Japan's crypto asset market appears to be moving beyond its speculative boom phase and entering in earnest the stage of implementation as payment and remittance infrastructure.