JPYC Inc. launched JPYC, the world's first regulated yen-pegged stablecoin, on Monday, marking a significant milestone in Japan's digital finance evolution and introducing a yen-based alternative to the dollar-dominated stablecoin market.

The token is fully backed by Japanese government bonds (JGBs) and domestic bank deposits, operates under a strict regulatory framework granted by Japan's Financial Services Agency (FSA), and is designed for fast, low-cost domestic and cross-border transactions.

JPYC was officially the first stablecoin issued under Japan's revised Payment Services Act, which mandates licensing, reserve transparency, and strict oversight  JPYC Inc. holds a funds-transfer service provider license from the FSA, a crucial requirement for its operation.

Each JPYC token is pegged 1:1 to the Japanese yen and fully backed by a conservative mix of yen-denominated bank deposits and JGBs, ensuring stability and transparency. The company has confirmed that total reserves will exceed 101% of the total circulation, and aim for ¥10 trillion in circulation within three years, supported by integrations from major banks like Mitsubishi UFJ and firms for payments and enterprise applications.

JPYC is available on major smart-contract networks including Ethereum, Avalanche, and Polygon, enabling interoperability and liquidity for wallets, exchanges, and DeFi platforms. Users can exchange yen for JPYC and redeem JPYC for yen 1:1 through the JPYC EX platform or approved banking partners.

To encourage adoption, JPYC will not charge transaction fees for at least the first year, with revenue expected to come from interest earned on the JGBs held in reserve. The company aims to issue approximately ¥1 trillion (about $6.8 billion) in the first three years, with a long-term goal of reaching ¥10 trillion ($66 billion) in circulation. The stablecoin is intended to serve as a tool for international settlements, corporate transactions, and to bridge traditional banking with blockchain-based payment systems.

JPYC's introduction provides a regulated, non-dollar alternative in the global stablecoin market, which has been dominated by dollar-pegged assets like USDT and USDC. It also signals a broader shift towards multi-currency digital assets and could modestly boost the global role of the Japanese yen.

The launch coincides with major Japanese banks planning to collaborate on stablecoin infrastructure, potentially integrating with tokens like JPYC.

This comes days after Early Warning Services (EWS), the parent company of the U.S. peer-to-peer payment network Zelle, announced a strategic initiative to leverage stablecoin technology for cross-border transactions, marking a significant expansion of its $1 trillion domestic payments network into the global market.

EWS announced it is beginning the work to develop a new service that will use stablecoins to facilitate faster, cheaper, and more reliable cross-border money transfers for Zelle users. The goal is to leverage the existing trust and user base of Zelle, which processed over $1 trillion in transactions in 2024 and serves more than 150 million users, to solve the persistent problems of high cost and slow speed associated with traditional international remittances.

The plan involves using stablecoins—digital tokens pegged 1-to-1 to fiat currencies like the U.S. dollar—on modern blockchain networks to enable near-instant settlement, potentially reducing transaction times from days to minutes or seconds. Two models are under discussion: partnering with an existing, regulated stablecoin issuer (like USD1 or USDC) for backend settlement, or EWS issuing its own proprietary stablecoin, which would give the banking consortium full control over governance but also expose it to stricter reserve and disclosure requirements.

This move, aimed at bringing the speed, reliability, and convenience of domestic Zelle transfers to international money movement, is enabled by the recent passage of the U.S. GENIUS Act ("Guiding and Establishing National Innovation for U.S. Stablecoins Act"), which provides a comprehensive federal regulatory framework for stablecoin issuers.

GENIUS Act, signed into law in July 2025 by President Donald Trump, establishes a federal framework that allows both banks and registered nonbank firms to issue and use stablecoins, provided they maintain one-to-one reserves in cash or U.S. Treasuries and undergo regular audits, giving conservative financial institutions the regulatory clarity needed to proceed.

The EWS announcement, made on October 24, 2025, signals a major step by a consortium of America's largest banks—including Bank of America, JPMorgan Chase, and Wells Fargo—into the digital asset space.

Zelle's entry into the global remittance market, valued at over $800 billion, positions it as a direct competitor to established players like Western Union, Wise, and PayPal, as well as crypto-native firms.

The stablecoin market itself is worth over $312 billion and is projected to grow to $360 billion by early next year. This move follows a broader trend as legacy fintechs like PayPal and Wise accelerate their own stablecoin strategies.

American singer Katy Perry (a.k.a. Katheryn Elizabeth Hudson) and former Canadian Prime Minister Justin Trudeau were seen together on Saturday night, in Paris, France, where they publicly confirmed their romantic relationship while celebrating Perry's 41st birthday at the Crazy Horse cabaret. The couple arrived hand-in-hand and were photographed looking affectionate and happy, marking their first official public appearance as a couple.

Perry wore a striking red gown with a thigh-high slit and accessorized with silver earrings and a black Birkin bag, while Trudeau, the former Canadian Prime Minister, dressed in a black suit paired with a matching T-shirt.

The event took place at Crazy Horse, an iconic Parisian cabaret known for its performances by nude female dancers. The venue has hosted various international performers over the years like Lisa from Blackpink, contributing to its reputation as a glamorous and exclusive destination.

The birthday celebration at Crazy Horse included friends, and the couple was seen smiling and holding hands throughout the evening, even as Perry accepted roses from fans upon leaving.

This public outing follows months of speculation about their relationship, which first emerged in July 2025 after they were spotted on a dinner date in Montreal. At the time, sources indicated that Perry was “really into” the relationship and that the couple had been spending private time together, though they aimed to keep things low-key.

Their romance developed after Perry’s amicable split from longtime fiancé Orlando Bloom, with whom she shares a daughter, Daisy Dove Bloom Bloom and Perry had shifted their relationship to focus on co-parenting earlier in the year.

Trudeau, who served as Canada’s Prime Minister from 2015 to March 2025, announced his separation from Sophie Grégoire Trudeau in 2023 after 18 years of marriage; the couple shares three children.

Perry, previously married to Russell Brand from 2010 to 2012, has long been a prominent figure in pop music with hits like "Teenage Dream" and "California Gurls."

French police have arrested two suspects in connection with the $102 million jewelry heist at the Louvre Museum, with one suspect apprehended at Charles de Gaulle Airport as he prepared to board a flight to Algeria.

The two suspects, both men in their 30s and known to police with prior convictions for robbery, were arrested in connection with organized theft and criminal conspiracy. One was detained at the airport, while the second was apprehended in the Paris region, reportedly planning to flee to Mali.

Investigators are analyzing over 150 forensic samples, including DNA, fingerprints, and traces from tools like gloves, a walkie-talkie, a high-visibility vest, and a can of gasoline left at the scene The Paris prosecutor, Laure Beccuau, has warned that premature media leaks could hinder the investigation, which involves over 100 investigators.

French Interior Minister Laurent Nunez praised the investigators’ efforts and urged discretion to protect the ongoing operation.

The suspects can be held in custody for up to 96 hours under French law, after which further details are expected to be released.

The arrests, made on Saturday evening, are part of an ongoing investigation into the audacious theft that occurred on October 19, 2025, where four men used a basket lift from a stolen furniture truck to scale the museum’s facade, break into the Apollo Gallery, and steal eight priceless imperial jewels in less than eight minutes.

While the suspects are in custody and DNA evidence from items left at the scene helped identify them, the stolen jewels have not yet been recovered, and authorities are actively searching for the remaining accomplices.

The stolen items include a sapphire diadem and matching necklace and earring set linked to queens Marie-Amélie and Hortense, an emerald necklace and earrings from Empress Marie-Louise, a reliquary brooch, and Empress Eugénie’s diadem and large corsage-bow brooch—part of a rare 19th-century imperial ensemble.

One piece, Eugénie’s emerald-set imperial crown with over 1,300 diamonds, was found damaged but recoverable outside the museum. The total value of the stolen jewels is estimated at $102 million, though their historical significance is considered incalculable.

The Louvre’s director, Laurence des Cars, described the security breach as a “terrible failure,” citing a camera blind spot that failed to capture the break-in. The museum’s security system, which includes internal alarms, was not compromised, but external surveillance failed to detect the intruders.