PassPay develops JPYW, a Japanese yen-linked stablecoin that operates as a prepaid token payment instrument on public blockchains, ensuring a stable value of 1 JPYW to 1 JPY. This solution mitigates the price volatility associated with traditional cryptocurrencies, enabling users to conduct secure and predictable transactions in both virtual and real-world environments.
Funding
$220K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional cryptocurrencies exhibit significant price volatility, making them unsuitable for everyday transactions and limiting their adoption in both virtual and real-world environments. Existing stablecoins are primarily USD-linked, posing challenges for users in Japan due to limited domestic usability.
Solution
PassPay offers JPYW, a Japanese Yen-pegged stablecoin operating on public blockchains as a prepaid payment instrument, designed to maintain a stable value of 1 JPYW = 1 JPY. By linking the stablecoin to the Japanese Yen, JPYW mitigates the price volatility associated with other cryptocurrencies, providing a more reliable and predictable medium for transactions. JPYW functions as a "self-contained prepaid payment instrument" under Japanese law, ensuring regulatory compliance and enhanced user safety. Users can purchase and utilize JPYW within the PassPay ecosystem, gaining access to a stable and secure digital payment method.
Target Audience
JPYW targets individuals and businesses in Japan seeking a stable and reliable digital payment method for online and real-world transactions, particularly those who prefer to transact in Japanese Yen.
Features
- JPYW is pegged to the Japanese Yen at a 1:1 ratio, minimizing price fluctuations.
- Operates as a "self-contained prepaid payment instrument" under Japanese law.
- Compliant with Japanese regulations, enhancing user safety and trust.
- Compatible with multiple blockchain networks including Ethereum, Polygon, BSC, and TON.
- Mobile wallet application available for iOS devices.